The year so far has been great for tyre stocks.Falling rubber prices have ensured that the stock prices have been rising.
Check out the performance of tyre stocks so far (2 Jan 2012-3 Sep 2012):
JKTyre: 78.39%
BalKrisInd: 71.85%
ApolloTyre: 58.15%
Ceat Ltd: 50.2%
MRF: 45.27%
TVSSRICHAK:14.36 %
If you’re a fund manager, you can sit there and bemoan how difficult life is, or you can say, ‘this is still the best way to make money’, and have fun doing so. What else are you going to go and do?”-from the FT
If you look at the history of India’s credit cycles, most of the time companies have gone bad, but not their promoters,” Mr Uday Kotak said, referring to the owners of India’s largest industrial houses. “This time the banks must ensure that the pain is shared fairly between the banks and equity owners.”
Some stuff I am reading today morning:
ECB Chief hints at bond purchases (WSJ)
LIC embarks on ambitious plan to cover all Indians (Mint)
Drought in India devastates farmers (NYTimes)
Indian banks urged to act decisively (FT)
Why market Fridays matter (UpsideTrader)
Investing:Hedges on the edge (FT)
21 ways rich people think differently (BusinessInsider)
Interesting to see Narendra Modi looking a bit intimidated by Vajpayee.