The compulsions of a coalition government and an invigorated opposition spell the end of political tailwinds for a conglomerate that’s tanked up on debt plus risk in the hope of breakneck growth.
Tuesday’s election results set off a tsunami that saw the so-called “Modi stocks”—comprising Adani group, infrastructure and public sector companies—taking a battering. The recovery later on Wednesday notwithstanding, the message is clear: it is the end of business as usual.
While it appears that there will be a National Democratic Alliance government and that Narendra Modi will head it, the realities a Modi 3.0 government will face are starkly different. For starters, it will have to lean on allies with a fickle track record and hard bargaining skills, creating a constant overhang. Then, we cannot completely disregard the possibility of …
Ujval leads our Business vertical at The Morning Context. In a corporate career spanning 14 years, he has worked across startups, consulting firms, multinational corporations and large Indian companies, including India Infoline, ICICI, KPMG, Tata Steel and Jubilant Pharma. Ujval has been a freelance writer and trainer for eight years, with bylines in Forbes India and The Economic Times.
Editor, Business
ujval@mailtmc.com
Pune