HDFC Chairman Deepak Parekh said Delhi choosing the Aam Aadmi Party to govern it for the next five years should not affect the markets.
“Why should it affect the markets? It is a change, people of Delhi have voted for AAP,” Parekh added.
He further added that Kejriwal is a simple individual who has promised good and clean governance in Delhi, the same as what rode the Bharatiya Janata Party into power in the Lok Sabha elections in 2014.
“I think what has impacted the Delhi elections is the last seven-eight months…nothing changed in Delhi when it was under the Lt. Governor’s rule. That may have upset people,” the HDFC Chairman added.
He, however, sounded apprehensive about the promises made by AAP on providing cheap power and access to water to the people of Delhi.
“He is promising people cheaper power, access to water …now we have to see how the AAP government is able to deliver on those promises,” Parekh added.
The benchmark Sensex ended 0.45 per cent higher at 28,355.62 on the Bombay Stock Exchange. Many feared that the markets would drop, albeit for a short time, if Kejriwal won the Delhi Assembly elections as he is not perceived to be as pro-business as the Central Government.