An investment in the Adani Group is akin to an investment made into India, veteran investor Mark Mobius said, while speaking to NDTV Profit on Wednesday.
Mobius also indicated that the Sensex could touch the 100,000 mark earlier than the previously-anticipated timeline of next year, buoyed by strong domestic momentum and possible positive political developments in the US.
Commenting on the controversy around a recent article in Washington Post, Mobius said, "The whole story around Adani has been overblown."
"They're doing good work," he said, underlining his confidence in the conglomerate's prospects.
The founder of Mobius Capital Partners LLP also believes that the recent pullback in gold is likely temporary and reiterated his long-term bullish stance on India.
Mobius added that investor interest shifting from India to China will be short-lived, as India's structural growth story remains intact. "We're betting on India going forward," he said.
Calling India's consumer space interesting, Mobius highlighted opportunities in hardware, both consumer and electronics, as sectors to watch.
Mobius had recently said India needs more infrastructure companies like the Adani Group and the conglomerate's recovery after SEBI's clean chit in the Hindenburg case will continue.
"The recovery in the Adani Group will continue. India needs more infra companies like Adani," Mobius told NDTV Profit, stressing that is optimistic about the conglomerate's strong outlook.
"India is going to grow strength to strength. Adani Group companies will drive this growth," he said. Mobius is a well-known India bull.
He said that investors who would have done proper research would've known that all Hindenburg accusations were baseless.
Moreover, he said the Securities and Exchange Board of India is ushering in more transparency and strengthening institutional frameworks.
"Regulators should insist on corporate transparency and disclosures. SEBI is becoming friendly with the private sector," he said.
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