Happy Thursdays! Let’s forget inflation, aviation, consolidation and eternal damnation

And remember something else about being India. About being a nation of 1 billion cricket happy audience who were relieved that despite Marlon Samuels, Chanderpaul and the Bravo, we are still ahead 2-0 at home after having destroyed ourselves in T20 and in foreign tours of England

Also lets remember that Indian corporates own the Blackburn FC and I’d say even the Liverpool FC for all practical purposes despite no business for Stanchart in India after its stunted listing Also that Vijay Mallya’s sports teams are still the toast of quite the world looking at India.

Apart from that just that fuel inflation is now 15.5% for the week ended Nov 02, 2011 and food inflation is still over 11% and the Nifty tanked a 98 points despite the Primary Index going down from 11.43% last week to 10.4% to 204.7, Food Articles are at 199.8, Fuel at 171 (from 169)and Non Food articles at 175.9 still up after a dip in the food index from last week.

India remains a bastion of growth, cricket and Coca Cola 

I do not understand how India can practice any fiscal consolidation with Oil, fertiliser and food subsidies hitting it below the belt and crude at above 100, though the spread between WTI and Brent is down (in the US hemisphere, because of a new reverse pipeline from the WTI hub in the north to the Gulf of Mexico) and in here as the low cost transport channels via Singapore and some de-bottlenecking in the Americas below in the shipping routes (as far as I could get this)

The mood seems to be , even during the falling knives in the markets from 9 to 3:30, that I can see some with good value to hang on to, for the eternal sycophants there is HUL and Airtel scrips for the uncaring there is the dropping stock of Oil and mineral companies showing a lot of space on the way down, and for the IT friendly just a word of caution – there is no business there except for that from depreciation of the rupee and that is halted he(e)re at 50-51 for the quarter.

The banks are traders currency though, even at their best value in prices do not hold to positions very long and try and carry trades overnight though after judging wthether long or short helps..opening a position after 9:30  is going to

a. be in the other direction

b. lose your profit from the point it worked on today in market hours.

Happy investing!

G-Secs

India’s additional $5 bln FII limit should be exhausted by the end of this week itself, we need much more.  Also if you have been following my writings since 08-09, it is the time of the season when central banks are buying gold..if anything else is falling that one won’t and global trade will remain robust and on the up for US, China, Europe and India despite every other suffering knocking through..

Heavy Fuel

UB sold 31% of its Spirits/Beer operation to no. 4 Heineken and SAB Miller and InBev must be snooping around these small marketing havens(India/China) for growing the “footprint” of beer and fuel..Did I hear a nother offer on the table for KFA?

Growth in Coca Cola

Consumption stocks in the non-discretionary sector / food stables / FMCG non durables seem to be doing OK on sales though Dabur and Marico have fallen on the way. In particular praise and investments from Dominos, now one of many brands at Jubilant Foods, Coca Cola, investing $2 billion ( 20% of our defence allocation on the China Border across 5 years) and veen general insurance and healthcare businesses like Max India or fitness studios from Talwalkars

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