This week we saw an interesting turn of events happen. While I enjoy reading the ‘Greed & Fear’ series by Jeffries on an ongoing basis, the latest edition did throw some good insights, as usual.
To start of, the highlight of the report was the MSCI ex-Japan index going a little overweight on India from 9% to 14% hinging on the premise that the Government has indicated that the country cannot go for another nationwide lockdown.
While there has been a resurgence in the number of cases and the deaths that are happening all around, state governments have resorted to localised lockdowns in certain pockets of their cities here and there.
Maharashtra, which was one of the principal contributors to this resurgence seems to have got things under control in terms of the reduction in active cases and deaths, but yet to bottom out.
While Chris argues that multiple high quality private sector banks are available at almost beaten down valuations, our internal team at Alpha Swing has a divergent view on HDFC Bank.
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