Summary

Nobody cares about valuations and nobody cares that the current rally is largely driven by the excess liquidity created by Uncle Sam’s endless love for printing money. The extra money printed by the Fed has flown into emerging markets, and as a preferred destination, India has received a substantial portion of this money.

India has succeeded in controlling COVID and the vaccination campaign is also gaining momentum. But the country has come under the grip of another infection. The boom started from Dalal Street in Mumbai but has now spread to other parts of the country as well. Doctors say the condition is not easily treated, although it is believed that shock treatments have helped in the past. Victims of the new virus develop such an unshakable belief in the stock that they become blind to it

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