India Morning Report: The lack of political prowess of the Nitish Modis and the NaMos, Advanis and Dear Rahul!

The General Post Office and Reserve Bank of In...
The General Post Office and Reserve Bank of India building from across Lal Dighi in B.B.D.Bagh, Calcutta (Photo credit: Wikipedia)

India Morning Report: And after 5600, is 5500 ..then 5400, 5300, 5100, 4900, 4500, and on it goes pegging poor buyers..

That would be one loose definition of retail investors currently ready to be pegged as not so germaine and India being resilient and a winning post even as RGR takes the board at the Reserve Bank of India. Vallabh Bhansali tried a valiant effort while MF managers ( again to be free non academic and interested in discussing with the educated layman who has other professions to tend) can be loosely ascribed as the educated investors’ abode and banks as continuing bulwarks of pressure for enterprise even as the NPA saga will not bleed anew but will extend its lasting periods well into 2016.

However if you do not ascribe to these notions as a first party or as third party notions of whats ailing india, which we would happily accept is not so, coalition politics to come and the lack of political prowess of the Nitish Modis and the NaMos, Advanis and Dear Rahul are going to cost India inc dear. One of course does not mean this as a crutch of benefits of stable seating charts at the RBI here but the ailments of the system will not be solved by monetary policy and one sees , like the continued selling of infracos and infra NBFCs even as banks rebound on the news of the new Chicago educated governor taking over (Deepak Parekh also was prominent among those welcoming the change). Fixed income Yields and more promisingly CDS spreads could respond to the timely change of regime at the Reserve Bank

Beautiful Gold Jewelry Designs from Golden India
Beautiful Gold Jewelry Designs from Golden India (Photo credit: epSos.de)

JLR results will be down this term, the defensives have been hit hard with HUL and ITC responding negativey to being tagged defensives after just having broken into growth on the trendline for the 3rd time together in a decade. Its a wonder SESA Goa , Sterlite and Tata steel are still falling sharply and that just means the market is unlikely to quit correcting till the CAD measures yet to be invented by us or experienced Economists like RGR and CRA (Rangarajan) are implemented to sustain the Rupee. Pharma and IT, the big white hope of those living and operating other Indian businesses from outside India, hardly seem geared for growth, most sticking to just small additions fom conversions of Fx and Exports though a stable share not growing fr pharma including the continuing risers in Stride Arcolabs o rthe youngest pig to the slaughter , Torrent even as Glenmark and not Sun pharma look great investments for the future

DIIs are still not biting and rates will be hiked sooner than later even as RGR tries to keep the bridge between the politicos facing elections and rolling out the first entitlements bill (in cash).Imagining Jet Airways at 300 levels while celebrating the final inking of a 24% stake from Etihad would have been unlikely even for those who started 5, 10, 15, 20 or 25 years ago.

The Sensex could not keep its morning cues intact going into the 11 AM post morning session and may sjow one more steep eigenvalue of fall on th Nifty and Sensex even befor the weekend comes but then it is becoming likelier at these levels after 12 sessions that the markets will not be freshly bet short and that this time means you should take one big short but it is improbably improbable that from here the hedge you take in buying the Banknifty will possibly probably and without virtual nanobots, make likely more money in the period to August end of series. So, come ray with me the markets last at 5500

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Bidding for the Olympics – The new marketing gig

Borrowed from the Washington Post for good effect

zyaada notes: The Chicago, Rio and Tokyo competition (’16 Olympics bid) is to be a secret ballot of 106 members of the IOC on October 2nd at Copenhagen

[picapp src=”0304/0000304416.jpg?adImageId=5050161&imageId=307698″ width=”234″ height=”352″ /]In the wake of a bribery scandal that caused the IOC to revamp its selection process 10 years ago, IOC members are no longer allowed to visit the bidding cities. Each instead receives a dense technical report on all of the bids, which seems decidedly overshadowed by the big-picture geopolitical issues in play when the election takes place, and what occurs in hotel ballrooms and on red carpets in the days leading up to the vote.

Added Mallon: “The IOC sees itself in a more hallowed position than U.S. people do. . . . The IOC thinks heads of state should come and, if not beg, at least plead their case that their city should host the Olympic Games. If heads of state don’t do that now, I think the IOC is a little bit offended.””If it’s anything like U.S. Congress, they’re not going to read it anyway,” Olympic historian Bill Mallon said. “If that’s the case, it really is very much, ‘Hey, the prime minister of Japan came; obviously they really want the Games, and the U.S. sent [Obama senior adviser] Valerie Jarrett — who the hell is that?’ It matters a lot” that President Obama decided to attend.

Before the Obama announcement, Chicago had said Jarrett, first lady Michelle Obama and Oprah Winfrey would campaign in Copenhagen with other dignitaries; Rio is sending soccer legend Pele, Olympic swimmer Cesar Cielo and President Luiz In?cio Lula da Silva. Tokyo has a prince, a princess and a prime minister. Madrid will roll out King Juan Carlos and Queen Sofia.

Does it really matter? London upset the heavily favored Paris for the 2012 Summer Games after then-Prime Minister Tony Blair and his wife, Cherie, showed up in Singapore, chatting up IOC members for hours.

“I’m convinced London would not have won if Tony and Cherie Blair had not gone out to Singapore,” Pound said.

Borrowed from the Washington Post for good effect

[picapp src=”e/1/a/8/Man_Utd_training_0607.jpg?adImageId=5051259&imageId=1995080″ width=”234″ height=”146″ /]

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