Oil spike

This refers to the article on the crude price (April 10). It is true the tensions around the Gulf may not end in the near future given the high stakes for the nations involved. But the Indian condition is different.

When global crude was negatively priced its derivatives saw sharp increase domestically. Despite sanctions on Russian crude, Indian refiners have benefitted.

Fuel prices have been cut due to the elections, but are likely to be hiked post-polls.

AG Rajmohan

Anantapur

Market exuberance

The BSE Sensex went past the 75,000 mark on Tuesday and hit a new high of 75,124, with the combined market capitalization of the BSE-listed firms crossing ₹400-lakh crore.

The fact that this unprecedented rally is not limited to the larger companies and includes the smaller ones, with the small-cap index up 65 per cent, reflects the growing optimism of investors.

While factors such as healthy economic growth momentum, expectations of strong corporate earnings in the fourth quarter of the current fiscal year (2023–24), a brightening prospect for rate cuts by central banks of developed countries, and the expectation of policy continuity explain the present surge in the BSE rally, concerns over valuations are genuine and cannot be overlooked.

M Jeyaram

Sholavandan (Tamil Nadu)

Media reforms

The Editorial ‘Media needs reforms’ (April 10) exhaustively discussed the need for reforms in the media through robust National Broadcasting Policy and Broadcasting Services (Regulation) Bill 2023.

From the viewers’ and readers’ viewpoint, the reforms should be broad based so as to cover truthfulness and authenticity of the news and content, and deepfake issues.

The regulators should provide some constraints and restrictions, penalty or censure for false news.

Vinod Johri

New Delhi

Apropos the Editorial ‘Media needs reforms’, the entry of big business houses with deep pockets has caused a seismic shift in the manner media has begun to function.

The social media platforms offer an alternative narrative to all that is peddled on mainstream TV channels. In its eagerness to be the first with the news, due verification is not carried out and fake news is presented to the viewers.

A free and fair media is non negotiable in a democracy. Governments will always try to control the flow of information. With deepfakes on the rise, media will have to be more vigilant.

Anthony Henriques

Mumbai