The recent stock market meltdown has eroded the fortunes of many Indian Billionaires.
Certain Large cap stocks have been beaten down severely and value is now emerging.
Billionaires in the Media (Ramesh Chandra of Zee TV), Real Estate (KP Singh of DLF), and Infrastructure Logistics (GM Rao of GMR Infra & Gautam Adani of Mundra Ports) sectors have been the worst hit.
The stock market here is facing a confidence crisis, and no one is willing to back the ‘Long term India story’, given the turbulent global equity markets.
Expectations of inflation are getting built into the system, and that it going to make the ongoing battle with inflation all the more difficult.
Rising interest rates, rising fuel & food prices and tighter lending policies by banks will slow down growth rates. The upcoming quarterly results may confirm the slowdown.