One of Canada’s best-known investors says that Narendra Modi’s election victory in India reinforces the bullish opportunity for investing in the country.
Fairfax India is a holding company that invests in publicly traded Indian stocks, private companies and debt instruments. It began trading on the Toronto Stock Exchange in January, 2015, soon after Mr. Modi won his first term as prime minister of India and Mr. Watsa wagered on his success. Yet, Fairfax India has been struggling after a strong start. The share price hit a high on Sept. 1, 2017, but has since retreated about 28 per cent. The company’s recent letter to shareholders acknowledged that India’s strong GDP growth last year appeared to have little impact on the stock market: The S&P BSE Sensex 30 index slumped 3 per cent in 2018.
But the Prime Minister has also proved controversial. He has clashed with the Reserve Bank of India, leading to the resignation of the central bank’s governor and prompting concerns about Mr. Modi’s authoritarian streak. He has raised ethnic tensions and stoked conflict with neighbouring Pakistan. And while India’s economic activity is strong, unemployment has been high.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: nationalpost - 🏆 10. / 80 Read more »
Source: nationalpost - 🏆 10. / 80 Read more »