Fast track
A carrot and stick policy
IT may be in a turmoil but the market is certainly not dishing out irrational valuations. A look at the price movements in the last fortnight shows that the market is adjusting stock valuations in tune with performance by the respective companies. This i s the season for results announcements and the movement in stock prices follows a strict pattern of punishment for underperformance and reward for a good show.

Impact
Novartis: Sizable cash flow, but...
THE possibility of a sizable cash inflow for Novartis from sale of properties may not improve valuation of the stock.

Grasim: Cementing its hold
Grasim Industries' decision to expand its cement capacity may be viewed favourably from a long-term perspective.

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