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Strategy
Everybody’s job just got a bit harder. The weak performance of the Indian National
Congress (INC) party in the recent state elections may raise fresh challenges for (1) the
Government (future approach to economy and politics), (2) other political parties (future
electoral and political strategy), (3) the market (further uncertainty) and (4) investors
(bewildering number of factors to track). We stick with our defensive stance. The
FY2013 Union Budget due on March 16, 2012 will provide more clarity.
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