Though in no relation it was the banks moving down after the stake sale by Citi netted it only 670 per share on HDFC, the markets confirmed the corrction, in its most traditional form , with people on th e networks cribbing about the price of Oil and heckling people to buy as the markets estimates have been upped, IIFL taking a skinny dip this time on reestimation of Indian markets..
Maruti is already turned around at 1283/1288, I don’t know if the autos will fall further or take hold as defensive this time, qwith Axis still falling and Airtel not in a hurry to quieten on the news flow.
Wierd , more than a little, was Tata Comms biting a larg contract with Formula 1 , and from what you read in half cooked reports, seemingly in barter with Bernie’s F! for multi year maintenance won on ehand and F1 advertising for Tata comm on the other leg of the barter, usually such aa deal indeed happens and has indicated breakdown of India’s global deal making scenartio like the 2007 deal for anil’s Reliance in Disneyworld..nothing came out of which , though the CBS relationship of that clutch of deals has shown strength in growing now.
Connectivity and Content Delivery are definitely required and hopefully this brings in some cash for Tata Global Services like the TCS deal with Williams F! and is not a decade stopping barter as our Indonesia / Africa/shale deal operators have not shown any movement either and of course there is the fuddy duddy mainstream media trying to cook up the story of Indian bank bonuses being the same as global 40% drop in bonuses alongside the stories of India’s dealmaking having virtually (e)stopped by court order. That is how its looking again and this time there again is the lack of data flow to clarify what’s working..new breed hoping ot get sc$#%#%d by their employers?