TMS Ep256: Central Vista, Ravi Narain, markets, Antrix-Devas agreement

A revamped 3km-long stretch, connecting Rashtrapati Bhawan to India Gate, was opened to the public on Thursday evening by Prime Minister Narendra Modi. The road, known as ‘Rajpath’ until now, will now be called ‘Kartavya Path’. Part of the larger Central Vista project, the stretch is a glimpse into the future, a glimpse into the larger design.

After the renovated boulevard and the flight of spirits, let’s focus on the fallen heroes of the financial markets. They were like shooting stars, rising, burning and then disappearing, leaving a trail behind them. And unlike the stars, this trail was one of destruction. People like Harshad Mehta, Ketan Parekh, Ravi Narain and Chitra Ramakrishna had one thing in common: greed. Markets may not forgive them, but lessons can be learned.

These fallen heroes have, time and time again, tested the resilience of financial markets. But markets are used to changing. Meanwhile, Indian markets may experience intermittent corrections due to global central bank policies and some other factors, analysts expect India’s relative outperformance to continue. It is now the fifth largest stock market in the world. Take a look at what analysts are buying and selling as India seeks to shine amid the global gloom.

After the markets, let’s focus on a long legal battle, the curtains of which were recently drawn in India. In a big win for the central government, the Delhi High Court overturned an arbitration award that ordered ISRO’s commercial arm Antrix Corporation to pay more than $560 million to Bangalore-based start-up Devas Multimedia. We break down all the controversy and more in this episode of the podcast.