Markets opened to the new week’s excited chatter for a change this morning after a few weeks but the better IPO prospects and improved FII flows already more than $2. B this week could not excite the Rupee and it again opened at its lowest for the week above 55 as Forex broke on last months Gold data and apparently has become the exit for bears that know they are unwanted, trying to break the cosy relationship between currency and equities in Asia and dragging down equities towards the afternoon. Rupee, with my apologies to the surfeit of economists at the top Mr Prime Minister, is just reacting to India’s weak international diplomacy.
We should have probably given you a heads up in the morning, but revenue and subscriber prospects fail to excite indian angels into backing such ventures as ours, bent on writing and interest in firings at ecommerce carts or exits from PE investments of the last cycle not enouraging towards commercially viable prospects for analysts, writers and discretionary advisers. IPO sizes are getting comfortable around the INR 1000 crore and above mark and went thru with out a hitch despite a surfeit of promoter buy backs and appetite for indian debt has also increased manifold in the last two years
Bullish straddles/strangles are cheaper and you should not fund with calls unless beyond the 6400 mark. China premier Le Keqiang’s visit to the Capital could have been much more fruitful if the premier had tried to get more pulic awareness around it, India of course happy to have exited US defence exercises to get status quo in play at Ladakh ahead of the visit. No that China is looking to allow India banks or exporters further as it continues to keep a chinese only list for government tenders and machinery ( esp green power) bids
Those who thought Indus ind would catch again would have retreated after these two weeks and especially because apart from the positive wall offered by YES, it is also a better choice portfolio for pickers across infracos esp those looking at idfc, itc, jpassoc and gmr where buying would be perfect value plays esp if any DIIs had been carry cash for the redemptions and the volatiity turn awaiting
No, the Rupee is not going back to 52-53 levels immediately though S&P’s reservations have not been of interest to any FIIs and we would like to err on the side of caution ourselves with the CAD at ever higher levels though as the CEA mentioned the reduction in CAD faster than the reduction in Fiscal should help drive growth come 2014 And yes, Lets not forget our natural advantages as a consumption and trading economy at the bottom of the commodities cycle unlike the competition
- All you wanted to know about the JustDial IPO (profit.ndtv.com)
- India Morning Report: Bharti Airtel improves India offtakes, pecking order unlikely to change for markets (awardz.wordpress.com)