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August 10, 2005
India Profits Screaming
The headline story in today's (actually tomorrow's; you know, the time zone thing) Economic Times published by the India Times is incredible. 118 companies in the India stock market have earned more profits in the past three months (the first quarter of the fiscal year) than they did in the entire previous year.
I own IIF, the Morgan Stanley exchange traded fund for India, to capture some of this growth. Like China, India is driving world growth.
Be a little careful though. A separate story yesterday warned there are rumors the Prime Minister is thinking of resigning out of frustration over lack of success in selling state-owned companies.
And, by the way, The Economic Times, along with the Shanghai Daily (where today's headline reveals the currencies in the central bank's new currency basket, but not their weights in the basket) make pretty good breakfast reading. I have both with my oatmeal every morning.
JR
Posted by John Rutledge at August 10, 2005 11:35 PM
Comments
Better read beyond the headline :
'According to analysts, one has to see how these companies fare during the subsequent quarters, especially in cases where the bottom line has been boosted by abnormal factors"
Dennis
Thanks for the advice Dennis. I actually like what I see in the fine print even better.
JR
Posted by: Dennis at August 11, 2005 11:56 PM