With results considered for 44 private and public sector banks, the banking sector registered a growth of 4% in its net profit during the quarter. The auto (two wheelers) industry showed similar results. While Hero Honda recorded a growth of 16% in terms of its net profits, TVS Motors saw a drop of 15%. It is expected that the positive performance will rub on to the stock markets as well. As Mittal comments, “The superb corporate earnings added with strong growth of the economy has given the markets stronger fundamentals to go up once again.” Positive sentiments are already visible as the BSE Sensex has gained 8.59% over the fortnight ended on August 4, 2006. So once again, it could well be time to fasten your seat belts and get ready to soar as India Inc. does its bit by refueling the dampened investor sentiment at the bourses.
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Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006
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