India Morning Report: Love in the times of cholera for Airtel, India

Airtel rode the Data market jump as revenues for data doubled as for Idea in mobile data (94% and 110% respectively) allowing Bharti Airtel to showcase once again that ist is the best business and the best business group to run for India and in India. Of course, firming up of prices is a mixed blessing for consumers but the explosion of the data pie esp in mobile data augurs well for companies in this otherwise mature market just waiting for a whiff of good natured mojo for the overall economy to blast off.

Modi’s government is not yet in through the door, his ominous cries for Dil maange more in dissonance with the campaign for mostly informed voters going to the polls in phases 7 and with exactly 16 days to go. However, it is unlikely that the polls will herald any other government in India than a full fledged Modi government that will last 60 months and most of the reforms will not be rolled back abruptly or at least most investors do believe that and look for reassurances for the same.

Markets finally break a 2 day losing streak and return to green making Nifty 6800 an iron clad resistance and support thereafter for the India markets re-rating currently. Merck reports in India tonight and the results will underline why Indian traders should not go for stocks like Alstom and Astrazeneca on global headlines that do not impact the listed business, so often mistaken as pull for the global corps in question. ING Vysya’s results reported yesterday again showed some weakness and have to be inspected for renewed commitment required from their parent in Netherlandas spreads /jaws contract for the Indian sub and the Income growth does show a better traction in new loans

Ashwini and other network commentators have again been baited/baiting shorts after markets almost flattened out at 6720 , some of the confusion spreading over from a long earnings and election season but the selection of midcaps again shows the limited interest in the markets on the long side except for returning to 6800, staying positive on good earnings ( there are no real bad earnings reports coming, bu t that is not being factored early by the markets) and standing waters are unlikely to make enough trading capital queasy to force a down tick in the markets making 6650 probably a safe bottom and sold puts will continue at 6700 levels from Traders and investors alike waiting out the final tally.

I am busy packing my bags in Bangalore and tying up loose ends as I get ready to join campus for a Ph D at Lucknow / Trichy ( thanks for being around)

Infrastructure spend and IPL like sports franchises remain Indias most potent steps as they await an empowered government

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