The continuing collapse of the India story is generally supposed to have taken its toll of foreign investors’ optimism. Yet not all foreign corporations are the same. Asked about subdued growth and other issues on the sidelines of an event in Mumbai recently, a senior official with a storied foreign bank commented that the “media might not believe in the country, but we believe India has great potential”. His company’s belief and optimism were unchanged, he added. On being asked why, he pointed out that, perhaps, his corporation had the benefit of perspective, and an institutional memory of times that were much more difficult: “We have been here for the last 150 years. We will be here for the next 150 years at least.”
R P Singh, the former Comptroller and Auditor General (CAG) official, has been hogging the limelight for turning the heat on his former boss, ...
Rich valuations along with slowing growth have driven downgrades by leading brokerages in the past one month
The stock's over 20% gains in one month suggest most near-term positives are priced in