Modi Win Boosts India’s Industrial Stocks in Catalyst-Dry Market

Narendra Modi tightened his grip on power in India after a historic win in West Bengal, a result that may spur infrastructure spending and industrial stocks in a market otherwise lacking catalysts, according to analysts.

Stronger coordination between the federal and state governments may speed approvals and spending in power, steel, roads and railways, according to analysts at Citigroup Inc. and Bloomberg Intelligence.