Bucking the dwnturn ; India Inc. shows resilience to post better-than-expected results in the March quarter. It could be an indication of an incipient economic recovery.
Business Today, May, 2009 by Virendra Verma
Stock markets have a mind of their own and, very often, get a whiff of events before they actually unfold. Consider this: in October last year, the BSE Sensex sank to a new yearly low well ahead of the December earnings season. Analysts attributed it to jitters on Dalal Street about India Inc.'s performance in the quarter.
Not surprisingly, the results were below par. Now since March, the benchmark index had spurted in anticipation of a better performance by companies in the Januaryto-March quarter. And certainly, the initial report card of corporate India suggests that the markets may have got it right this time as well.
The financial results for most of the companies are either in line with or better than expectations without too many negative surprises. For...
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