The Indian markets are unique in the sense that companies having the same promoter are often considered as a “sector” or a “pack” even though the underlying businesses are quite different.
Now the entire Adani pack is hitting their 52 week lows
| Stock | Latest Close | 52 Week Low |
| ADANIENT | 239.95 | 239.95 |
| ADANIPORTS | 114.9 | 114.9 |
| ADANIPOWER | 50.15 | 50.15 |
Commodities have fallen to their lowest level since 2010 (more here)
“In many instances, value investing proves fundamentally uncomfortable, as the most attractive opportunities frequently lurk in unattractive or even frightening places.”-David Swensen in his book Pioneering Portfolio Management
Some stuff I am reading today morning:
Veggie prices surge 61% in April (TOI)
RIL loses 10% of market cap in a month (ET)
Rupee closes at an all time low of 53.96 (FinancialExpress)
The tale of a whale of a fail (DealBreaker)
Faith fades in eurozone firewall (FT)
Krugman’s Eurodammerung (PaulKrugman)
Bollywood gossip of the week (RajeevMasand)
“We’re headed into another summer on Wall Street and, like opening up a giant box of German pornography, you just know we’re in for a shitshow.”-Josh Brown wrote in The Reformed Broker