15/04/2024
The economy by and large will be shut at least until 15th May. Most probably, things will look a little better from June. Actually, once the pace of vaccination picks up and we have daily figures of vaccination being published, things will start looking better. By that time, we would have wasted one more year. So, while the various estimates were putting growth at 12% this year will be disappointed as the overall growth may not be more than 4-5%. So, now one would have to look forward to 2022-23. Investors, who have betted on high growth and have paid phenomenal valuations will be hurt this time around. We have seen many stocks and companies trading at astronomical values despite tepid growth rates in last several years. This will correct as the phenomenal growth expectations have been illusory.