It wasn't a bad week for the markets. Results, RBI, M&A and scams hogged all the attention and made the markets dance to their tunes. Their collective cacophony in turn kept our studio inmates gripped. A slice of the conversation in the studio:

Apoorva: What a week! India Inc. seems to have gone on a shopping spree of sorts. And for once, it wasn't the pharma majors hogging the M&A limelight.

Ritvik: Yeah, that's true. There were as many as five M&As reported on Tuesday alone. Many others joined in over the week!

Apoorva: The enthusiasm, however, failed to rub off on GDP that came in the same day, which was bearing a slightly sombre look. For the Jan-March quarter GDP expanded at 7.8 per cent, its slowest pace in five quarters.

Ritvik: Wonder if this will make the RBI re-think its strategy… perhaps make them press the pause button? They may decide to hike rates by 25 bps only in their upcoming review on June 16. Even the core sector growth slowed in April to 5.4 per cent. So the question is, how much can they compromise on growth?

Apoorva: Hmmm…we'll know in a few days! Besides, there's not much of growth anyway. Call me a pessimist, but did you know that the earnings of listed Indian companies in the March 2011 quarter grew at the slowest pace in three quarters? Rising costs is eating into profits even as sales growth remains healthy. Gives me a sense of déjà vu!

Ritvik: Well, Morgan Stanley is reasonably optimistic. In a recent research report, it said that it “remains a buyer of Indian equities” - with a 12 to 18-month view! Even the HSBC Manufacturing Purchasing Managers' Index data for May shows growth, though the momentum has moderated.

Apoorva: Talking about stock-specific performance… HUL perked up on buzz that US-based Procter & Gamble is contemplating a 38 billion pound bid for its European rival Unilever. Wonder what the Indian implications will be?

Ritvik: Yeah… that's an open one for sure! On the other hand, SUN TV investors haven't had a great week. Mere reports of CBI questioning the former Telecom Minister Dayanidhi Maran have set the stock price tumbling!

Apoorva: Yup… just like how Tata Teleservices galloped on reports that the CBI has given a clean chit to the Tata Group in the 2G spectrum scam. Guess management credibility in influencing stock market investments hasn't been more important at any time before. A slight doubt and investors punish the stock ruthlessly.

Ritvik: Well, it's about time they did. Anyway, did you see the IPL finals last week? Brand Dhoni is set to scale new highs. At the last count, according to London-based Sports Pro magazine, Dhoni had ranked as the tenth most marketable sportsperson in the world, endorsing 23 brands. He is said to charge Rs 6 crore a year per endorsement for a period of three years!

Apoorva: But IPL viewership was largely hyped this time around. Facts have a different story to tell!

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