Indian breakfasts are as active as on the forefront of liberalisation reforms of 1991 and the rupee as resurgent seemingly as it was in 2010. Of course that means the Indian It companies avoided a rush by not raising the earnings bar for the quarter though because of a lack of “growth demand” in the industry. Mid Cap MindTree starred in a Dollar transferred market participant’s plate but the broader market including the dip to 5270, narely moved since Monday morning. the Dollar continues weaker as another attempt is now made to fairly value the currency to the Dollar as exports degrow in Dollar terms
A sumptuous delight from the markets apart from Apollo Tyres, JK tyres, and MRF where turnover is thrice the Market Cap lies in undervalued SBI(SBIN) that is not going under despite the increase in confirmed restructuring as NIMs expand and the bank raises deposit rates. Another has decreased lending rates for mainly the same reason, finally leading to a better Economic playground for RBI to come in and not cut interst rates immediately. Unfortunately, it plays still so it means Pranab Da could not have done it six months earlier and was not in the way; that both Pranab Da and the markets will be disappointed about.
Breakfast tip: Don’t have that egg, choose parathas or iddiappams, very different from each other and ell suited for the Young Indian. Idlis and Biryanis, not my cup of tea or steaming coffee.