5 reasons why stock markets think Modi is good for them

Shishir Asthana in Mumbai

Narendra Modi's elevation as BJP’s candidate for prime minister’s post was officially announced post market hours on Friday. However, by noon it was already clear that his name would be announced by evening.
Some expected the market to react to the event but it did not. And it is unlikely that it will, for the simple reason that he is not the prime minister, yet. Having said that, many in the markets and Corporate India world prefer to see him over anyone else as the next prime minister of the country.
We look at some of the reasons quoted by the market and why it senses a bullish undertone in Modi’s candidature announcement.
A survey carried out by ET CEOs Confidence before Modi’s candidature was announced suggested that an overwhelming three-fourths of the 100 CEO’s surveyed prefer Modi as the next prime minister.
Rahul Gandhi bagged to get votes of only seven CEOs.
Corporate India has been at the receiving end of ‘policy paralysis’. The report says CEOs have voted for a strong leadership, intent, decision and action, which Modi has demonstrated in Gujarat. Rahul Gandhi has no such claims to his name.

Survey shows India Inc firmly in Modi camp

 
Subhadip Sircar and Suvashree Dey Choudhury in Mumbai

Nearly three-quarters of Indian business leaders believe the government has mismanaged the economy and want opposition leader Narendra Modi to lead the country after an election due by May next year, according to an opinion poll published on Friday.
With India's 80-year-old Prime Minister Manmohan Singh expected to step aside, only 7 per cent of 100 chief executive officers surveyed for the Economic Times/Nielsen poll backed the ruling Congress party's Rahul Gandhi for the premiership.
Rahul represents the fourth generation of the Nehru-Gandhi dynasty that has led Congress, and India, for much of the time since independence from Britain in 1947. His late father, grandmother and great-grandfather were all prime ministers.
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Image: Gujarat's chief minister Narendra Modi (L) and Anil Ambani, chairman of Reliance Group, embrace as Ratan Tata, chairman Emeritus of Tata group, looks on during the inauguration ceremony of the Vibrant Gujarat global investor summit at Gandhinagar in the western Indian state of Gujarat