Operation Flood and Feed-Milk Relationship

October 26, 1985 the paper profits having been converted into losses in the wake of massive institutional sales.
Despite the very substantial decline in equity prices from the August highs, economic pundits do not think that sanity has returned to the stock market. Their stock argument is that the current level of equity prices cannot be rationally explained in terms of conventional and widely accepted norms such as yields and price-earning ratios, The all-India equity price index still stands 71,4 per cent above its starting point in January. It is being pointed out that while there arc distinct signs of an improvement in the investment climate, prospects of a major breakthrough in the economic tempo cannot be rated very high.