Boom Beyond The Raging Waves

Ranked second in the world, with a caseload of over 25 million — of which close to 3.4 million cases are active — and a daily death rate that is alarming, Asia’s third largest economy, India, has been the nation worst affected by the Covid-19 pandemic due to some serious blunders. Having said that, The grave reality is not reflected in the equity markets though, which are again staring at the all-time highs it had reached in February. The answer to the conundrum is that the virus is no longer an unknown shock to our country or corporates. This means those who are foreseeing a 40 per cent or more correction like last year might be missing the bus completely. Most of the large- and mid- cap companies with sustainable or unique business models, growing revenues, no or little debt and healthy financials, have posted solid fourth quarter numbers. Performing sectors like IT,...