Foreign investors await general election outcome: Chris Wood of CLSA

Foreign investors are likely to wait for the outcome of the general elections scheduled for April/May 2019 before committing fresh money to Indian equities, writes Christopher Wood, managing director and equity strategist at CLSA in his weekly newsletter, GREED & fear. 

Bond and currency markets in India, he says, seem unalarmed by the fiscal deterioration given that the tax collections rose just 7 per cent year-on-year in the first nine months of the financial year 2018–19 (9MFY19). Investors, according to him, seem to be taking the view that populist actions should be tolerated in the short-term if they help get