With the Bharatiya Janata Party alone winning 303 seats, and the BJP-led National Democratic Alliance (NDA) winning 353 seats (out of 542 seats in the Lower House) with an unprecedented 50% share of the votes cast, the Indian electorate’s messaging was unambiguous:
(June 17): The Tantallon India Fund closed up 3.14% in May, rebounding sharply off mid-May jitters, buoyed by Prime Minister Narendra Modi’s decisive mandate in the general election. Amid stark geopolitical uncertainty, and the growing risk of protracted trade conflicts exacerbating a fragile global growth outlook, Modi’s victory is a clear positive, bolstered by strong corporate earnings, and in particular for the small- and mid-cap universe, continuing to surprise positively on the upside.
