July 2006

After a 3 month period of correction, markets seems to be showing visible signs of consolidating. It seems likely that this phase may continue for some more time. On the positive side, corporate earnings were very good during the last quarter. Many of the companies in the portfolio have been coming out with good results. Concerns over inflation has weaned a bit.

Valuation of select stocks is looking attractive. The current phase seems like a good period to invest selectively.