Slight setback for India !

The banking sector has recorded good corporate performance. While the State Bank of Mysore post a growth in net of 13%, Indian Bank recorded 11.8% net rise and Vijaya Bank 33% !

Biocon, the blue chip BT co, recorded 20% growth in Q2. Wipro, the IT major, recorded a 10% rise in net profit !

There are some negative factors, like FDI falling, slipping down to 1.33 billion USD in August, from 3.28 b ! Overall, there is a slump in FDI.

Jupiter, the financial planet, moves over to the adverse 8th for India and this indicates some financial stringency. This is only a temporarary phase, as Indian stock market will go upto 50 K Sensex, within a decade. Let us not be bothered by temporary setbacks. Ultimately the victory will be India's !

Indians have mastered web designing skills, programming skills and English language skills, with the result India is the largest English speaking nation in the world. More engineering and medical graduates are produced nowadays and India will be the third largest economy in the world in 2020, after China and the US !

Housing units shortage is estimated at 20 to 70 million units and this is a huge opportunity for Housing Finance. Residential space price is rising in all urban and rural ares. Also commercial space, as India industrialises !

Now the stock market has fallen as expected, after companies mopped up 4800 crores as IPOs. From a long term perpective, this is only a temporary lull !