Covid is the intention of the Indian middle class
As Ram Prakash spent weeks feverishly and breathlessly, his heart and 16-year-old daughter were heartbroken, adding to the fear that a modest middle-class safety net wearing knits could be ripped off.
The 53-year-old man, a local business tax adviser, was one of millions who joined the fast-growing middle class in India in recent decades. Rising incomes, better education and consumption fueled one of the world’s great stories of economic success.
The second tragic wave that took the life of Ram, who is the family’s helper, has shattered Prakash’s hopes for the future. “Our life was good, but now it’s all over,” Uma said to her widow.
Why is Nifty50 behaving as if Covid 2.0 has never happened?
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Market data suggests while foreign investors have been dancing to the tune of ‘Sell in May and go away’ when it comes to Indian equities, domestic institutional investors have been sticking their neck out and lapping up those shares.
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Market data suggests while foreign investors have been dancing to the tune of ‘Sell in May and go away’ when it comes to Indian equities.
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Some called Mr Market ‘heartless’, while others tried to explain it as its typical ‘forward-looking’ behaviour.
Market data suggests while foreign investors have been dancing to the tune of ‘Sell in May and go away’ when it comes to Indian equities, domestic institutional investors have been sticking their neck out and lapping up those shares. There’s no evidence of large-scale pullout by retail investors either.
It is baffling to see how the market has been resilient enough to ignore any negative news.
I guess investors have learnt that even if you have 3 months (of lockdown) like we did last year in April, May and June when the economy contracted by 25%, leading market franchises can come back very strongly. During the last 7-8 months of FY21, we saw investee companies of ours such as Asian Paints, Pidilite, Divi’s Lab, Dr Lal Path Labs, Relaxo, HDFC Bank, Kotak Mahindra Bank and Bajaj Finance posting earnings growth of 30-40%.
A lot of people had sold these stocks in the panic of February and March last year. I guess people do not want to repeat the same mistake. Everybody is as shell-shocked by the scale of what is happening around us. The humanitarian tragedy is evident, but at the same time people are saying we learnt from our mistakes last year. We do not want to make the same mistake twice and sell in a panic mode. It will be a very difficult situation for 2-3 months but leading
Stick to market leaders, recovery won t help second-rung stocks: Saurabh Mukherjea
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Last Updated: May 07, 2021, 04:45 PM IST
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Barring pharma and FMCG, all other types of consumption will see a pretty significant hit, says star fund manager Saurabh Mukherjea.
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Metals continue to be a rip-roaring theme. Is the best of the rally behind us?
I am not an expert on commodity prices, which is actually driving the share prices of metals and mining stocks. We can sit here and try to quantify earnings growth of Indian metals and mining stocks but the main engine of share price of metal stocks like Tata Steel or JSW Steel, is the price on the London Metal Exchange or in the global commodity markets. They are on a tear because of roaring economic recoveries in America, Europe and China. To that extent, we are in the early stages of a global economic recovery. It could be that there is more steam left in metal prices, but I am no expert in that.