At 2400 Infy has reached its limit bound range where it started from 2200 just last week and the rally has been good reassessment for the industry as welll, the results season really scaring longstanding sector watchers who now realise their folly of having equated IT with the Indian Economic future per se as the industry gets seriously underscored on lack of redefinition of offerings more suited to a passive nineties in the sector. CTS aggressive competition like HCLT has done well bu tthe pretense will wear off quikly.
Copper has reached the zone of no action with global movements trying to push it to $3.42 and then falling back to $3.35 per ounce where it was in the Indian marketsat around INR 422-423 levels. Crude is finally falling but not being in a hurry to fall internationally, Indian markets will capitalise on their own impatience and push the oil bill higher till Crude ( not brent which has fallen steadily) indeed does a mini crash from $96 levels
No, India companies are not making any more global deals with all buyers ending up in the list of top 10 debt holding conglomerates including Adani and Reliance ( between 70-80,000 Crores or ~ INR 1 T) and infracos Lanco, GMR and others also hit by debt “( mint opener in print livemint.com) but Reliance debt pile is manageable to say the least and RIL is a good trade.