India Morning Report: Markets responded to opportunity on Tuesday

Wednesday Morning however, despite Asia a day late as usual responding to Dow wins overnight is up 1% and 0.5% across the board. Indonesia’s Fragile Resource busy GDP story breaks ground in a few and the Asian story remains different from the India story despite sharing some older European origin investment Banks and India bulls in the  offshore markets.

At least two Indian companies in BHEL and Ranbaxy report single digit OPMs, markets still in love with them for their size and representation of sectoral wins but mostly sentimental and disproved by Corporate governance foibles though BHEL still shares a stronger order pipeline and key barter investments in Africa.

Exchange markets settle down at 62.5 levels after the run ofn the Dow and the exposed sensitivities in the current breakdown make bulls not just stock specific but watchful of still more south moves

Banknifty resilience was on display yesterday as it returns to favorites to lead the rally when it hapens and will likely hold 10300 levels, notably as expected YES Bank making an early recovery at just under 300 and ICICI Bank following from 950-970 levels itself

Tech Mahindra results may not be able to hide their BT attrition from markets and are at best a sell on results as key profit taking in IT continues

DEspite the cut in SGX Nifty to 6000, Nifty has barely moved in the pre open yet is positive with many investors still holding cash and some able to switch to Longs as TRaders end the short trade. Shorts in Emerging Markets ETFs have been extinguishing this week and inflows may well be back at least in India specific interests as the South AFrica-Indonesia-Turkey inadequacies play out to the new lows for the currencies

Bharti a great trade in longs, seems to have recovered the renewal bids in Spectrum and competition from RElianc eJio is still not looking at Winner’s curse level bids after a long drama played out over two years for the cost of Spectrum. Government, despite 68% higher prices in Mumbai and 50% in Delhi for Bids closing in on the INR 1 T mark at the end of the 2 day auction, still probably south of the Centre’s initial target and the value of the spectrum, paying for being not counted in a fragmented aand fractious mandate, likely to bite any new incumbent again

PFC reported great results, NIMs for Power NBFCs continuing  near 5% and spreads of 3.5% after all costs with Revenues of INR55 Bln and Net Profits 11 Bln for the December quarter (Q3 FY14)

What about the iPhone at 20k?

In unlisted business, Apple India joins the host of halfway attemts to infiltraate Indian markets and remains shucked out with its half baked plan to catch a mass market at 20k. With smart phones , including latest Adroid offerings from Samsung available at 12-13k, they have definitely missed the bus with a 20k non-option . Yes, I am talking about premium phones. The 20k price point is way north of the premiu market price points in India esp for Gen Y and Gen Z now than Gen X is firmly in the mid 30s and we have alredy crossed into 40s, not wanting a sunk cost instead of a premium phone making the decision easy for most of us.

Another India unlisted key card losing focus on what it can do is Economic Times, again losing ground in print with shallow almost incomprehensible half analysis in each post, disappearing like a TZP excerpt for the Oscar run and which will end up as a barely half quality unusable piece of paper/indian chip with the latest Y design in journalism woefully missing the mark

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