Mark Mobius sees Modi returning to power; bullish on infra, power sectors

Mark Mobius optimistic about India's election results; bullish on infra, power segments

Ace market investor Mark Mobius expressed optimism about the upcoming election results in India, foreseeing Narendra Modi's return to power for third term and the continuation of his policies.

"The big question mark is whether he can get a number of seats to change the constitution. I doubt that it will happen at this stage but it could happen and if it does, we will see another big push in India for big changes taking place, particularly in the infrastructure arena," Mobius told CNBC International.

Mobius emphasised his interest in Indian infrastructure-related stocks, anticipating a strong push in this sector. "Infrastructure is going to see a good push going forward."

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Additionally, Mobius commented on S&P's 'B' rating for India, considering it very low and advocating for a higher rating, especially looking forward.

"You gotta have a high rating." According to Mobius, S&P is looking backwards and the current rating is just a safety measure. "Looking forward, S&P's rating on India should be higher," Mobius said.

Mobius also emphasised his preference for India's power sector in India, pointing out the increasing global demand for electricity. "One of the things people don't really realise is the incredible demand for power, not only in India, but globally."

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He stressed on the need for India to double its power capacity to meet growing consumer demands, predicting significant growth in the power sector.

"All consumers need to power their cell phone, chips need more power. Consumers are consuming more and that needs more and more power. Power is going to be a big growth area in my view," Mobius said.

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