Modi risks wealth erosion as savers chase India stock rally

Indians pouring record amounts of their savings into a stock-market rally risk getting burned. Earnings per share at companies in the NSE Nifty 50 Index have stagnated since the run up to the 2014 elections, which triggered a surge in equity prices.

The index has risen 50 per cent over the same period. Bridging the gap won't be easy after already-slowing economic growth was slugged by Prime Minister Narendra Modi’s demonetisation drive late last year and the disruptive roll-out of the goods and services tax this July. The.....

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