Despite the crisis, the Adani conglomerate is critical to India's growth story, said Anand Batepati, portfolio manager at GFM Focus Investing.
"Nobody wants to see Adani [Group] suddenly collapse because these infrastructure projects are big. The assets are good. They serve a mission critical purpose and they're aligned to all these development goals the government is shooting for," he told CNBC's "Streets Signs" on Wednesday. "So, I don't think the access to [Indian] capital markets, whether it's the banks or the rupee bond market, is going to be closed to Adani," added Batepati. "It is possible though that there's going to be more scrutiny."The Securities and Exchange Board of India is expected to meet Finance Minister Nirmala Sitharaman on Wednesday, to give an, has also said "the banking sector remains resilient and stable," citing its own assessment of the situation.
ParikPatelCFA relative?
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