First GST and Now Demonetisation: Are We Entering the Mother of All Bull Runs? - Views on News from Equitymaster

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The Equitymaster Research Digest

First GST and Now Demonetisation: Are We Entering the Mother of All Bull Runs?
Nov 11, 2016

Prod India's Big Bull Rakesh Jhunjhunwala about the future of Indian markets and all you've been getting is the same reply for the past few years. 'Mother of all bull markets is still ahead of us', he responds in his characteristic assertive style.

You never know, that 'ahead' moment may have finally come. The last time the seeds of a long term structural bull run were sown was in 1991-92. That was the time India brought in the big bang economic reforms which put our economy on a permanent higher ground. And pretty soon, both corporate earnings growth and stock market upsurge followed.

Another Watershed Moment

If experts are to be believed, we could well be at the cusp of another landmark reforms, as significant with respect to its impact on the economy, if not bigger. The way things have been moving on the GST front, the rollout could well see the light of the day as early as next year.

And barely did we recover from this euphoria, out came Government's surgical strike against black money. By banning existing higher denomination notes, it has not only dealt a body blow to the parallel economy, but also perhaps permanently change the way India spends and pays its taxes.

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