31 October, 2020

The Street Has The Edge

Markets are by now unaffected by terror's ways. But it extracts a long-term price.

The Street Has The Edge
For the Indian investor, Infosys is clearly way more important than the 200-odd dead in the terror attacks. What Nandan Nilekani says, or indicates, is ever more significant than what the militants do—even if they do Terror Tuesday, hitting 12 targets in less than 12 hours. This fact is clear from the ever-optimistic Sensex which, riding on better-than-expected Infosys Q1 results, zoomed by over 300 points the day after the serial bombings in Mumbai and Kashmir on July 11. It did fall 72 points on Thursday (July 13) though, hinting that it was also sympathetic to the families of those who died, or were injured.

But for India's economic stakeholders, terrorism has become a part of life, albeit an unsavoury one. So it was business as usual on Wednesday (July 12). "The West has understood that such acts have only a transient impact on an economy. This incident gives us an opportunity to show how India turns a crisis into an opportunity," said M&M CEO Anand Mahindra. He was referring to the fact that Mumbai was back on track the next day,...


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