If bjp loses Gujarat, then it may prove Modi’s waterloo; Wood


The BJP may be facing the toughest challenge in the Prime Minister Narendra Modi’s home turf  Gujarat, but Christopher Wood, author of the Greed and Fear Report, is putting all his money on a BJP victory for the sixth consecutive term.

As Gujarat is schedule to face poll in two phases i.e. December 9 and December 14. The result to be  announced on December 18. At the same day Himachal Pradesh Assembly election, which had happened on novmber 9, will also be announced.

The market veteran, however, warned that should the BJP lose Gujarat, it might prove Modi’s Waterloo. “Modi will be finished in an event of the BJP’s loss in Gujarat,” he said.

In a note to clients, the CLSA Managing Director and Equity Strategist said the odds of the BJP winning Gujarat elections remain high, even through the ruling party could secure the win with fewer seats than in the 2012 elections.

While market watchers remain cautious over a possible swing among Gujarat’s trading community in the wake of the cash ban and GST rollout, Wood feels the opposition Congress has doing blunder in trying to fight the election on GST and demonetisation.

The CLSA strategist feels the Congress should have fought Gujarat, not on national issues, but on local issues. The opposition Congress is unconvincing under Rahul Gandhi’s leadership, he opined.


note- with input of et


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