Till date almost all indicators were giving me pessimistic results. In the month of Feb 2009, the Industrial Production again shrank. However today I got this news:
Steel consumption in the country rose 3.8 percent and production increased 1.2 percent in the last quarter, Steel Secretary Pramod Rastogi said at the conference. Rural housing and infrastructure will continue to boost demand, he said.
This is probably the first credible indicator that suggests that the worst is probably over for India. Now its time for me to further boost the country’s GDP by drinking a mug of Beer
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Ankur Aggarwal
sree
Sandip Chaudhuri
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shobhendrasrivastava
What about the northward movement of Sensex, Ankur? The last few days have been good for the market and I thought the worst is over.
Comment by Prerna — April 15, 2009 @ 6:59 pm
http://enagar.com/2008/02/18/what-are-stock-market-tips/
I have learned the hard way that more often than not it is advisable to check the fundamentals rather than the stock market for checking the strength of the economy
Comment by Ankur Aggarwal — April 15, 2009 @ 7:30 pm
The increase in steel consumption in India is just a small blip, according to me. The world over, the steel demand has fallen by an average of 30%. And India is not at all insulated from the outside world, as was believed.
Comment by Rohit Agarwal — May 14, 2009 @ 10:34 am
steel consumption is an important indicator esp for a developing country that is trying to build a modern infrastructure.
the industrial production is shrinking, rupee getting devalued etc. etc. the steel indicator is the only credible indicator that is is giving me any positive hope.
but what u say is exactly my point
Comment by Ankur Aggarwal — May 14, 2009 @ 12:06 pm