Somebody’s loss is somebody’s gain.
The worst ever fall in rupee value has made a lot of people rich, more so for the ones that are involved in exports. These include the IT/ITES, Spice Traders, Bike/Car manufacturers, Builders etc. and many more. So when the results of some of the traded companies were announced, it was no wonder that they will show a spike in profitability.
So does it mean that we should invest in these businesses? It think the writing on the wall still is that you need to go by what the company is doing, rather than the numbers it shows. Numbers are gimmicks, not intentional, though lead us to believe something that may not be right. (more…)