This morning the Sensex has been down 300 points and the Nifty over a 120 points. The surprise is not that the indices are looking south but that it took so long to see that markets do not run on sentiments but on ground reality. Markets driven by 'herd instinct' are not necessarily on sound basis; nor are markets always on a one way 'trip up.' In a globalised economy, Mumbai is not decoupled and the sooner we realize this the better in the long run. Sectors like banking with their huge quanta of NPAs should really worry the shareholders.
The Indian rupee is under pressure obviously as the share market too is seeing sellers. A stronger rupee has no macho element; in today's world of competitive pricing a falling rupee is to be welcomed.
There has been a lot of cosmetic management among Indian companies. There has to be value based, efficiency driven managerial restructuring, India has talent but has short term routes to profits and this type of myopic managerial approach makes it lag behind China by a decade.
Without risk or responsibility.
The Indian rupee is under pressure obviously as the share market too is seeing sellers. A stronger rupee has no macho element; in today's world of competitive pricing a falling rupee is to be welcomed.
There has been a lot of cosmetic management among Indian companies. There has to be value based, efficiency driven managerial restructuring, India has talent but has short term routes to profits and this type of myopic managerial approach makes it lag behind China by a decade.
Without risk or responsibility.
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