Modi Likely to Win Election: Time to Buy India ETFs Now?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 29 2024
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Source: NASDAQ.COM
- India's Stock Market Performance: India's stock market, with ETFs like EPI, PIN, and INCO, has shown strong gains recently, outperforming the S&P 500.
- General Election in India: India is in the midst of a general election, with Prime Minister Modi expected to win another term, supported by significant investments from U.S. tech giants.
- IMF's GDP Growth Forecast for India: The IMF raised India's GDP growth projection for 2024-25 to 6.8%, citing resilient domestic demand, with a forecast of 6.5% for the following fiscal year.
- India's Tech and Business Ambitions: India is positioning itself as a global hub for technology and business, attracting investments from major tech companies and chipmakers.
- Potential Fed Rate Cut Impact: The Fed may cut interest rates by late 2024, which could weaken the U.S. dollar, benefiting emerging market currencies like India's economy.
Analyst Views on PIN
Wall Street analysts forecast PIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PIN is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 23.320
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Current: 23.320
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
