Global investors await the Adani 'dust to settle' but inflows seen picking up again
In an interview with CNBC-TV18, Matt Orton, Chief Market Strategist at Raymond James Investment Management said that he still sees some news flow around the Adani group and would like to see the dust settle more before making any significant investment decisions.
Adani Group companies have been on a downward spiral after a report from short-seller Hindenburg Research accused the conglomerate of fraud. However, while the news flow around the Adani group may be creating some short-term uncertainty, the long-term outlook for the Indian market remains positive.
In an interview with CNBC-TV18, Matt Orton, Chief Market Strategist at Raymond James Investment Management said that he still sees some news flow around the Adani group and would like to see the dust settle more before making any significant investment decisions.
He said, “There is still news flow related to Adani Enterprises. I want to let the dust settle still a little bit more, but I am looking for opportunities in India more than China and Latin America right now. India and Southeast Asia are at the top of my emerging market list because they have lagged the broader EM complex.”
Orton expressed confidence in the Indian market, stating that India is a bit more insulated from the global macro narrative. This insulation, according to Orton, creates a sense of stability and provides a favourable environment for investment.
He also highlighted the potential for margin expansion in sectors such as IT and IT services. These sectors have been performing well in recent years and are poised for further growth as digitalisation continues to accelerate.
Orton added that he is seeing more foreign investor flows coming back to India. This trend is a positive sign for the Indian economy and suggests that investors are increasingly recognizing the opportunities that exist within the country.
For more details, watch the accompanying video
(Edited by : Abhishek Jha)
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