And that would be less than 50 points on the nifty – 20 percent 50 points, 1 percent 100 points – as vix moves from 30 overnight to 45 levels within a week. Most of the correction would resize and realign the banknifty composition again at 12850 overnight.
Given Pfizer and US Authorities continuing crackdown on drugs from India ( Pfizers fake drugs lab featured Ranbaxy on Bloomberg yesterday, 100M users (see ET) did not vote for Ranbaxy and founder Dilip Sangvi definitely has an uphill task trying to convert his $4 B revenue acquisition of Ranbaxy into a paying deal. The price
Though the trend is no longer on the up and up, BS revealing that IT and Pharma earnings have reached 20% of India Inc scorecards in 2013, doubling in 3 years on the depreciation dragon that caused a 14% run on the rupee just in the December Quarter. Meanwhile the Rupee is ratcheting back to
Gavaskar will probably take over as BCCI chief for the IPL 7 “bat-arounds”(Whack-a-mole) as CSK and Rajasthan Royals shutdown could see sentiment spillover to cash equities and a 30 edition IPL in the UAE as suggested by the Supreme Court a body blow to the sport. India Inc in the meantime continues to enjoy a
As investment flows confirm net positive investments in India on a regular daily basis, making the total for March closer to $3 Bln or close to $150 mln per day (INR 900 Crores) , India and Indonesia keep hopes alive for Global equities and EEM flows remain negative with exits from China, Japan and Korea
India moves up from 6500, Morning Report
Infy is available at 3350 in case you are looking at gaps in your portfolio. The twin shock to Sun Pharms from the US FDA however, broke the proverbial Camel’s back, big sharp falls in both together taking ou t the bulls hopes ( as i n fact the bulls ar e in no particular