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A Lion’s eye on the Bulls and Bears

“In India, companies may fall sick, but promoters rarely do!”

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October 27, 2008

Happy Diwali ?….rather it’s a Hapless Diwali…Even Diwali Gifts are being rotated more than before !

It’s certainly going to be a Hapless Diwali….Yet hang in there….Keep the Faith….Pray the next Samvat Year 2065 brings  back the Smiles and Cheers for all of us

A Diwali Gift given to a Broker was passed on by him to his CA…who switched visiting cards and passed it on to another…and within two days the same Gift came back to the Broker !

The World is certainly Small and Round !

This Rotation of Gifts is not  going to be an uncommon practice this Diwali !

So I will not be surprised  if my gifted Chocolates too come back to me !

Diamond Industry Devastated by Short Term US Dollar Rise

Last night,I caught up with the Chairman of one of India’s leading Diamond Companies….and he is worried about the further fate of the US $ inside a year from now !

The Diamond Industry is an export oriented and value added one…..Roughs are imported…polished and exported….The Imports were left unhedged but exports were hedged as Dollar at Rs 42/US $ was expected to weaken…Instead the US $ surged to Rs 50+/US $…Exports being hedged will not reap the benefit while Imports that were unhedged will see the cash flows impacted significantly as Diamond Houses will now have to pay at current rupee depreciated rates of  Rs 50/US $ 

Time to Change your Forex Team/Advisors guys !…With your losses they are anyway going to lose their jobs or their retainers !

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