THE WAY FROM BEARISH TO BULLISH

Hello friends.
Today is the fourth day of the Bengali New Year!!!
A belated “SUVO NABABARSHO” to you all.

As I proceed to wish you all on this auspicious occasion of POILA BAISHAKH(Bengali),Baishakhi(Punjabi) and also Easter, it leads me to compare some stark contrasts that I notice in the cycle of events that has unfolded between the start of the New Year'2009 and this time.
We started this year 2009 with a gloomy Economic scenario and to top it all was the Satyam scam coming into the limelight raising questions on the credibility of our world class corporations and the Software industry in particular of which we are so proud of.

But with the start of the Bengali New Year on 15th April, we find Satyam has been able to find a new owner. Yes Satyam has been acquired by Tech Mahindra. I see it as a great beginning to the end of a crisis which has directly attacked the dominance of the software industry in India.I personally feel that this acquisition will be a win-win one.Tech Mahindra business line though different conform to that of Satyam,the acquisition will give them great scope to diversify their portfolio of software products and services and they may soon be in a much better positition to be among the ones dominating this sector in India.

On the other hand,there are also indications on the revival of the economy as well.The SENSEX and NIFTY both are showing signs of recovery.The SENSEX has shown a continuous upward run in the 10000-11000 points level for about a week now.The fiscal stimulus are also showing results.The FIIs has also started flowing in slowly.

Also, the election is under way,which is certainly going to be a very important and decisive event.The formation of a strong and stable government at the centre can contribute in a big way in tackling the Economy and to implement necessary fiscal reforms which are on the cards for a long time and are very much necessary to take the Economy to the next level of growth.

That’s all for now.
Thanking you all.
Good Bye………..

With best regards,
Amitava Banik