UPA win will mark structural change in mkt, eco: Uday Kotak
Published on Tue, May 19, 2009 at 09:04 | Source : CNBC-TV18
Updated at Wed, May 20, 2009 at 14:48
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UPA win will mark structural change in mkt, eco: Uday Kotak
Uday Kotak, Vice Chairman and Managing Director, Kotak Mahindra Bank said, “It is a game changer for the market. The Indian markets saw their bottom in March. The decision by the Indian voter in terms of the new government and the stability of the new government is a structural change in India."
Five years ago, this day was called Black Monday - the UPA government was about to take oath - and the Left had scared the markets into a dramatic fall. Today, we have a decisive verdict for the Manmohan Singh Government, one where the so called "dream team" have the opportunity to live up to the promise and now we are calling it the Golden Monday.
The previous Lok Sabha has been dissolved and the new cabinet is likely to get sworn in on the May 20 or 22. In the backdrop of this historic election result,
Uday Kotak, Vice Chairman and Managing Director, Kotak Mahindra Bank said the election results were a game changer for the market and sees the current scenario as an opportunity to change world history. India is considered to be a country which has significantly higher domestic demand and the ability to build a domestic economy, he said."The Indian markets saw their bottom in March. The decision by the Indian voter in terms of the new government and the stability of the new government is a structural change in India. Markets and the real economy will need to reflect this structural change. The bottoms have significantly moved up from the 8,000 levels. On a global basis, we are past midnight, but it's still too early to call a global dawn."
