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$3.3-bn Tata fund manager fears hung parliament may end India's share rally

Tata Asset's strategy is to bet on shares that failed to participate in the rally

The brokerage said that domestic flows may not be enough to protect India from any global sell-off, especially in large-caps. It added that analysts' estimates of a sharp earnings bounce-back doesn't give a true picture of growth concerns

Ameya Karve | Bloomberg
The wait between India’s first voting day in April and the official results on May 23 would keep most investors at bay. For Rahul Singh at Tata Asset Management Ltd., chief among his concerns is the possibility of a deadlock on who leads the world’s largest democracy.

“The biggest risk to the recent gains in Indian equities is there may be a hung parliament,” Singh, the chief investment officer, said in an interview at his office last week. “In that case, though a very small probability, nothing will hold the market and it will be in trouble if some weak leader

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First Published: Mar 28 2019 | 7:54 AM IST

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