Positive Outlook

 Analysis and recommendation is purely for knowledge purpose and not to consider as any financial advice. Data are collected from various sources and analysed.For testing accuracy, paper trading can be done.

Stocks with Positive Outlook

The Markets has retreated almost 150 (1.25%) points in the past week from its all time highs. Further fall from this levels as correction is expected to be less. Considering the global markets scenario, Indian markets are expected to perform better than previous week.

So, these five stocks from various industries are showing some good potential and are expected to show some good results ahead. So, hereby giving a positive outlook for these five stocks

Responsive Industries

Responsive Industries Analysis and recommendation is purely for knowledge purpose and not to consider as any financial advice. Data are collected from various sources and analysed.For testing accuracy paper trading can be done.+

CMP: 44
TARGET: 50-60
STATUS: POSITIVE



About the Company:
A leading global manufacturer of polyvinyl chloride (PVC) based products. Among the top three producers of vinyl flooring internationally and the largest Indian producer of PVC flooring and artificial leather cloth. At responsive its not just about business, its about the relationship.

Fundamentals:
The stock is having sound fundamentals. For the past five years Responsive have posted good results and is expected to continue. This stock can be considered as one of the growth stocks with a good management.

Outlook:
Expected to post better quarter results. Overall Showing positive signals of upward movement in the price.

Exide Industries

Exide's Analysis and recommendation is purely for knowledge purpose and not to consider as any financial advice. Data are collected from various sources and analysed.For testing accuracy paper trading can be done.

Status: Positive

CMP: 197

Target: 220-230

About the Company: 

Exide Industries is a storage battery producing company and a life insurance company in India. It manufactures automotive and industrial lead-acid batteries. It has plants in India and Sri Lanka. In 2013, Acquisition of 26% shares of ING Vysya Life Insurance Company adding a total of 100% stake leading to "Exide Life Insurance Company

Analysis:

Quarterly Performance:

The Quarterly performance of Exide battery is picking up. Compared to the past quarters the overall revenue has increased. We should understand that the company has also incurred more costs than the previous quarters. May be the hike in costs can be related as a move of management to increase revenues. Apart from that the overall increase in cost of materials is also a concern. The company has performed well comparing to the peers and is expected to rise up soon.

Other facts:

The steady increase in profit and other revenues are good news for the share holders.  The overall efforts from the management is good and will keep the performance in track. The increasing expenditure is a concern. Exide will be subject to perform as a major supplier for big corporations like Tata. The future also seems pretty bright for exide. If the auto sector is revived from current levels the chances of exide crossing 250 is very near.

The Growing rate of Exide and the performance of the battery industry is expected to give more momentum for the stock. Hence giving a positive outlook for the company.

Performance History

Disclaimer: All Analysis and recommendation is purely for knowledge purpose and not to consider as any financial advice. Data are collected from various sources and analysed.For testing accuracy, paper trading can be done.

The snapshot form of past 5 stock recommendations.

Most of the stocks are steady from the record date, While the Nifty gave 5 percent return from April.. these stocks have did way better than the market. Techniques of three step and five step buying process would have been very effective.

SUVEN LIFE SCIENCE Equity Report

Disclaimer: Suven Life science Analysis and recommendation is purely for knowledge purpose and not to consider as any financial advice. Data are collected from various sources and analysed.For testing accuracy paper trading can be done.

Market Cap: 2400     Crore 52W High: 227    52W Low:149

About the Company:

Suven Life Sciences was promoted by Mrs. and Mr. Venkat Jasti in 1989, as a Private Limited Company. Later it was converted into a Public Limited Company in January 1995. Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class therapies through the use of GPCR targets. The Company has six internally–discovered therapeutic drug candidates currently, in pre–clinical stage of development targeting conditions such as ADHD, dementia, depression, Huntington's disease. Parkinson's disease and obesity are in addition to developmental candidate SUVN–502 for Alzheimer's disease and Schizophrenia.

The company’s main thrust is in Contract Research and Manufacturing Services (C–R–A–M–S). Suven's ‘C–R–A–M–S’ is in existence since 1991 serving as many as 22 global Life Science and Fine Chemical Companies by developing and supplying cost effective Pharmaceutical and Agrochemical  Intermediates for New Chemical Entities  (NCE's) meeting world standards of Quality, Speed and Respect for Environment.

Drug Discovery & Development Support Services (DDDSS) aims to provide Contract Drug Discovery & Development services in Medicinal chemistry.

Source: NDTV

Shareholding Pattern

Performance Analysis

The company had a good first quarter accompanied by two bad quarters. The Sales were considerably low and last quarter is expected to perform better to keep up the sales. Good model of management and expert support for the company is advantage and the major sources of revenue have not got dried up. The Promoter Jasti has been continuously buying shares and it is good news for the company. EBITDA sound good but increased expenditure and other finance cost are eating up major share of the profit. The P/E ratio of the company is 36.00 which very close to industry ratio. Beta of stock is 0.90.

YOY the company has been consistent and management has good control over the operations held. The company is expected to post mixed results in the coming quarter but fundamental view is strong and stock is expected to move up. The figures as per the previous annual reports are giving good numbers and expectation for the investors.

Providing Quality service on timely basis is the major advantage of Suven. The CRAMS model is delivering good operations and the services are up to the quality. The Company is having more than 100 active projects and the clients are also pretty happy with the quality of the performance delivered. The R&D Department is outsourced in order to concentrate more on core competencies. In other way the outsourcing has created more expenditure too.

SUVN 502 is in the phase of approval from USFDA and it will be a boost fro the company if approved. Along with that three other are awaiting trials and results. Decline in Long Term borrowings and increase in assets is a good sing for the company. So the key factors are supporting the stock and a better Q4 performance is expected.

Technical Analysis

From technical front increased delivery trading during past trading days are giving positive sign for the stock. Immediate resistance is seen at 195 levels and support is seen at 175 levels. The RSI of the stock is neutral. So some fluctuations and a test of 170 levels can be expected. Even though, the strong support at 160 levels is hard to break.

House View

Suven Life Sciences is expected to break the 195 level soon and reach upto 220 levels in coming quarter. As I said S1-175 and S2-160 are strong support zones and better results can make sure stock won’t go further beyond that level. Considering the operations and financials, Suven is fundamentally a good stock and expected to reach above 200.

CAPLIN LABS Equity Report

Disclaimer: Caplin Labs Analysis and recommendation is purely for knowledge purpose and not to consider as any financial advice. Data are collected from various sources and analysed.For testing accuracy paper trading can be done.

Company Information:

Caplin Point Laboratories Ltd. manufactures a wide range of Ointments, Creams and other External applications. The company also has a facility for liquid injectables, ophthalmic drugs and lyophilized bio-tech products. Started in the year 1990, Caplin Point Laboratories Ltd. is based in Chennai. It is one of the fastest growing pharmaceutical company in India. The company  is aiming to enter new markets and have already achieved 2000 product licenses across the globe and are awaiting US FDA approval. Caplin Point is able to generate adequate revenue and cash flow to remain debt-free with benchmark receivables, and also continue to invest in state of the art manufacturing facilities from internal accruals. One of the main reasons for the success can be attributed to the wide range of products offered across diverse geographies.

Overview:

Market Cap:  2926 crore

ISIN: INE475E01026

52WK HIGH (RS.) :460

52WK LOW (RS.) 184

EPS (RS.) :6.06

Regd Office: Chennai, Tamil nadu

MD: Dr. Sridhar Ganeshan.

                                                         

Shareholding Pattern:

Performance Analysis

The Performance of the company has been exceptional through past quarters. The Income from major operations like antibiotics, anti- inflammatory analgesics has been constantly improving. Consistency and the model of operations undertaken by the company is good and the overall business is increasing its value. The Enterprise value has increased many folds from its inception and the constant growth is making this stock more attractive. The Expectations from the next quarter is very high and net sales are expected to cross 95' mark. Profit is also expected to increase. Last quarter there was an abnormal increase in Employee cost and this time it is expected to remain little lower. 
Overall the March quarter will be good for the stock.

 The YOY analysis is also pointing to a great year for the stock. Management has good vision and latest operations and the achievements from foreign markets is also good for the stock. The company has increased its presence over globally and are doing pretty good comparing to other pharmaceutical giants.
The P/E ratio of company is high from the industry ratio but the Caplin has delivered good performance and it does not make the stock overvalued. Apart from that the stock is having good fundamentals and are waiting for results.

Revenues from antibiotics is expected to increase. The key sources of revenue like Latin American countries are still strong point. Since the company is positioned itself as create value through self funding, and it is debt free makes it more attractive. the Promoter's stake has increased and the valuations are positive for the stock.
The stock is currently trading at 380 range and are expected to reach 450 to 500 in long term. I see 420 as a reasonable target in short term. The US FDA approval can boost the company and can cause increase in ROE.


Technical Analysis:

The stock is technically strong and a strong support is seen at 375 levels. Immediate resistance is 420 and breaking those levels can make this stock reach 52w High. Investors will be keen to see the results of this quarter. The Overall sentiment to stock is positive. The RSI, MACD and other major technical indicators are showing positive signs for stock. 

HOUSE VIEW:
The results are expected to be positive and one of major driving forces of the stock in this quarter. key Economic reforms and US FDA Approval are expected to be positive for the company. Current global as well as domestic business is going good for the company.
So We can expect better returns from this stock in near future. Caplin Is expected to touch 420 and 500, by 2017 end.

SNOWMAN LOGISTICS EQUITY REPORT

Disclaimer: Snowman Logistics Analysis and recommendation is purely for knowledge purpose and not to consider as any financial advice. Data are collected from various sources and analysed.For testing accuracy paper trading can be done.

About the Company:
Snowman Logistics Limited, founded in 1993, is an integrated pan-India temperature-controlled logistics services provider. Gateway Distriparks Limited, our promoter and largest shareholder, creates a bank of shared knowledge and valuable experience for us to build our operations. Snowman’s investor profile includes Mitsubishi Corporation, Mitsubishi Logistics Corporation, International Finance Corporation and Norwest Venture Partners.Snowman is one of the largest temperature controlled logistics services providers in the country, with an ability to service customers on a pan-India basis. provide value added services such as kitting, labelling, sorting, stuffing and destuffing of containers, packing and bulk breaking. Further, they sort, grade, pack and wash select fruits and vegetables.

The Snowman Edge:
During the IPO itself snowman had catched eyes of many due to its technology backed operation process and the services they provide. Regarding the growth of the industry it was growing at a good 20% per annum and snowman had enough opportunities to cash in. The performance of the stock also witnessed the same in market. The Market price of Snowman went above 100. The presence of Snowman in Temperature Controlled Logistics (TCL) is gaining its importance and are expected to grow in current market scenario.

Analysis:

The Performance of Snowman was pretty bad compared to other financial years. But the stock has corrected and is trading around its fair value. It is obvious that people does not expect much from this stock in coming result and are expected a fresh beginning in coming time. The rising expenses is a problem but income from operations are steady and growing at good rate.

Technical Analysis

The stock is trading below moving averages and trend is slightly sluggish. The consolidation in market and relatively less volatility in economy will keep the stock in current levels. Any positive news to industry like GST or a better than expected quarterly results can uphold the stock. The RSI is at 38 and the stock has potential to revive its current losses and gain more confidence. The Support levels are seen at 56 and 49. Holding or averaging this stock will be good. In medium term the stock will surely cross 70. 

Key Financials:
Market Cap- 1003.36 Crore
ROE%- 4.81

Shareholding Pattern:
Promoter:40.25
FII- 0.95
DII- 0.32

Others: 58.48

House View:
People who looks for fresh buy opportunities should wait. The stock could see support levels of 56. But the expectation of upcoming quarters are positive. Key Economic reforms and GST is expected to boost up the stock. A better than expected Q4 results is also good since the stock is corrected so much. 70 is the target for medium term.

TV 18 Broadcast Equity Report

Disclaimer: TV18 Broadcast's Analysis and recommendation is purely for knowledge purpose and not to consider as any financial advice. Data are collected from various sources and analysed.For testing accuracy paper trading can be done

CMP AS ON 05.05.2017

About the Company:

TV18 successfully completed the acquisition of ETV in this financial year and now houses a bouquet of 10 regional news channels. TV18 Broadcast Ltd is one of India’s popular television broadcasting networks. It includes one of India’s leading news networks comprising channels such as CNBC-TV18, CNBC Awaaz, CNBC-TV18 Prime HD, CNN-News18, IBN7 and IBN-Lokmat (a Marathi regional news channel in partnership with the Lokmat group) .TV18 and Viacom18 have also formed a strategic joint venture called IndiaCast, a multi-platform content asset Monetization’ entity mandated to drive domestic and international channels distribution, placement services and content syndication for the bouquet of channels from TV18, Viacom18 and other broadcasters.

Source: Network 18 Website

What's new for TV18 Broadcast?

1. Both Quarterly and yearly increase in revenue but increased expense made income statement look bit soft.
2. Reduced Investments in financial assets and used money to invest in assets and finance expenses.
3. Revenue earned is Positive
4. They introduced 10 new channels. 5 HD feeds of existing channels which is three regional and Vh1 and Comedy Central.TV 18 also deepened and widened presence in regional through Colors Super which has got launched and have introduced MTV Beats which is a 24x7 channel both in HD and SD.
5. The latest mergers looks promising.
6. Recovery shown in 4th quarter compared to 3rd quarter.
7. Better doing channels like CNBC and News18
8. Estd Rishtey Cineplex
9. Expecting reduced expenses.

Shareholding pattern

Performance analysis

The Performance analysis base year is took as 2016. TV 18 has given lowest return while comparing the Nifty Media Index and giants like SUN Network and Zee Entertainment who are the major players in the sector, While analysing the performance the company is yet to show its true potential and by considering the latest announcements from board of TV 18 good return is expected from this stock. The Promoter stake is constant.

Key Financials

Market Cap -6848 Crore

EPS- 0.59

P/E- 67.71

P/B-1.84

Technical Analysis

The Technical analysis of TV18 is showing a immediate support at 38 levels and second support is at 35 levels. The stock is having resistance at 43 levels and if breaks it can climb up to 50.  The Stock RSI is Positive and looks oversold. From Technical front bullish outlook is yet to come. Still downward is limited.

House View

The Positive trend in market and media industry is good for the stock. The business is expected to increase and financials will also pick up from next quarter.Increase in revenue and EPS are expected. Costs are expected to get reduced. 

Support levels are 38 and 35. The stock is undervalued and expected to touch 43-45 in medium term and 50 by end of 2017

MINDTREE Equity Report

Disclaimer: MindTree Analysis and recommendation is purely for knowledge purpose and not to consider as any financial advice. Data are collected from various sources and analysed.For testing accuracy paper trading can be done

CMP as on 20.04.2017- 438

INDUSTRY

Information technology in India is an industry consisting of two major components: IT services and business process outsourcing (BPO).^] The sector has increased its contribution to India's GDP from 1.2% in 1998 to 9.3% in 2015. The earnings of the IT Industry has been growing at good pace currently earning 143 billion in year 2015-2016. The rate of growth in domestic and export business of IT sector promises of earning 200 billion usd revenue by 2018.

Indian IT's core competencies and strengths have attracted significant investments from major countries. The computer software and hardware sector in India attracted cumulative Foreign Direct Investment (FDI) inflows worth US$ 22.83 billion between April 2000 and December 2016, according to data released by the Department of Industrial Policy and Promotion (DIPP).
The recent H1B visa issues and union budget allocations has impacted on the industry.

Company Information

ISIN: INE018I01017     
52w High/Low: 755/399
Market Cap: 7486 crore
Regd Office: Bengaluru
MD and CEO: Mr. Rostow Ravanan
Sector: IT

Shareholding Pattern:

About the Company
Mindtree delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition. “Born digital,” Mindtree takes an agile, collaborative approach to creating customized solutions across the digital value chain.
Collaborative Spirit, Unrelenting dedication and expert thinking are the core values of the company. 
The Company globally deals with more than 200 clients and offices in 14 countries including United States of America, United Kingdom, Japan, Singapore, Malaysia, Australia, Germany, Switzerland, Sweden, UAE, Netherlands, Canada, Belgium, France, Ireland, and Republic of China.. It specializes in ecommerce, mobility, cloud enablement,
digital transformation, business intelligence, data analytics, testing, infrastructure, EAI and ERP solutions. The
Company offers various services like: Application Development & Maintenance, Data Analytics, Digital Services, EAI BPM, Engineering R&D, Enterprise Application Services, Independent Testing, Infrastructure Management Services and IT strategy and consulting.
Source: Mindtree website

The Masala Bonds

The Growing Scope of Masala Bonds

Let me begin this blog with a screenshot that i shared (prediction) during the November 2016 on twitter.
This tweet was done 6 months ago and the masala bond market had started to do a steady run but unfortunately capturing less media attention.  From a "not so popular bond" to special treatment in Union budget, the importance of Masala bond has grown over years. 
Through this blog i am looking to show the major characteristics of these bonds and its importance in India.

"Masala Bond" the name itself may not be that familiar to you but since its inception ie, 2014 when IFC raised a 1000 crore bond to fund projects in India, this name started to capture some attention.

Despite being a new "thing" the overall buzz received by these bonds at beginning where pretty lower. Since having a higher scope and reduced risk  I was pretty sure that masala bonds will gain a lot of attention. Even though, if you  search "Masala Bond" or "Rupee Bond" in google, the chances of getting a well defined or flabbergasting articles saying about the various aspects or advantages regarding the same is comparatively very lower than from most celebrated asset classes.  

So,What and Why -Masala Bonds????

Meaning: "Masala Bonds are bonds issued outside India but denominated in Indian Rupees, rather than the local currency. Masala is a Hindi word and it means spices. The term was used by IFC to evoke the culture and cuisine of India. Unlike dollar bonds, where the borrower takes the currency risk, masala bond makes the investors bear the risk."
(source: Wikipedia)

In simple words, this is a mixed financial instrument where the external borrowings are done with reduced risk. 

Now lets try to answer why, these bonds:

The total borrowing by Indian corporate sector on 2016 stood around 15 billion US Dollars, which is comparatively much lower than that of previous years. Still the corporates external commercial borrowing is a major component and comprising 37 percent of India's External Debt. More alarming fact is that most of these are unhedged. Increased debts and currency fluctuations do create a big risk for the economy.

An article came on Bloomberg shows the same.

Another source showing statistics of ECB and Rupee bonds:
http://in.reuters.com/article/ecb-fccb-idINL3N1GY3ND

So it might be now clear to you why the masala bonds are useful.
In a country like India, where the currency is highly fluctuating and dollar being the largest indebted currency denomination, the scope of these rupee bonds are becoming more inevitable. The Importance of Masala Bonds are much higher in a country like India. If we see the past several months, rupee has been moved from 69 to 64 levels. Chances of a plunge in rupee is still possible at any point of time. Apart from that the recent geopolitical risks and economic events leaving the world in a VUCA environment which is not that healthy for our country.
We cannot claim that it is a easier source of finance but Masala Bonds are of greater safety than unhedged sources and in changing global conditions.

Masala Bonds and Union Budget

The Given below is a major excerpt from the article of Livemint on February 1 2017

" The rupee-denominated offshore bonds, popularly known as masala bonds, on Wednesday got a tax benefit boost with the Union budget exempting them from taxation for transfer among non-residents, while a low rate of 5% will apply for investors till 2020.

The decision to levy lower tax deducted at source (TDS) of 5% with respect to masala bonds would be retrospectively effective from 1 April, 2016."

Source: http://www.livemint.com/Politics/vVGQk2I3G11Ya8DUr9XvMM/Budget-2017-Masala-bonds-to-get-more-tax-benefits.html

Government taking steps regarding to popularise and inviting more companies to use cheaper source for raising funds. The Major advantages of Masala Bonds not only vest with investor but also to corporates and for the nation.

Still too much reliance on external debt is also quite unpleasant. Masala bonds may give a better chance but the increased debt is still a problem even though it is in rupee denomination.

The Current Interest rate is below 7 percent which is more cheaper if it was issued domestically. HDFC currently holding the name for largest masala bond listed in London Stock Exchange, many companies like NTPC, Power grid and many other players has also raised find via these bonds.

Prediction:

The rate at which external debt is growing and the growth of companies and expansion plans is showing a positive outlook for Rupee Bonds. The recent currency appreciation and events can cause a drop in external debt but the corporate borrowings seems to be increasing through masala bonds. The Bonds are more likely to get invested by overseas players. Better credit rating for the nation and new policies are expected to get more fund flow which will boost the market. Unexpected external or internal events pose risk for the same. 

The latest upcoming issues include New Development Banks 500 million US$, HDFC planning to raise 3300 crore and Shriram Transport also in frontline, the rupee bond market is pretty alive. It is still too early to conclude but Masala Bonds are of greater advantage and sustainable instrument.

Thank you.

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The Inter-Migration and Indian Economy

The Indian Economy has been changing drastically over the few years and when I am writing this blog, nifty has crossed 9000 levels and Sensex touched 30000 points.So over the past few years, what that exactly made our country apart is a relevant question. The major answers will be the newly elected Prime Minister of the nation.. or may be the attracting Indian market or even can be what we used to see as a dream is actually quiet working.


Through this blog, i am not pin pointing the reasons for the betterment of Indian Economy but a process that helped for the same. I named this blog as "Inter-Migration" because, this so called surprise of Migration was already happening in the background and may be we were not aware of  the intensity and how it helped to increase growth of our economy.

INTERNAL MIGRATION

These statistics are a bit old but it shows that the migration pace had good momentum and in a country like India, people were ready to move from their place of birth to other places. It is interesting to see that the reason for migration was not that forced. Some people were moving out permanently some other for temporary reasons and the whole shifting process of people is helping the country lots of ways. So as I said, the reason for migration was not forceful in nature, people in the country identified the opportunities awaiting in different parts of the nation and moved out from their birth places.

Work/ Employment factors being one of the major drivers of migration added up value whereas Business and Education where investing value for the country.  

1,338,783,343- Being the present Indian population, which is way ahead than 2001 population is pointing to the factor of increase in internal migration.

This is an excerpt from the economic survey 2016-2017.New estimates based on railway passenger traffic data reveal annual work-related migration of about 9 million people, almost double what the 2011 Census suggests

Let’s see an example.

In India, the students mostly migrated for purpose of studies where mainly for PG courses or for acquiring higher education or for research. At present, the fact is bit twisted. The need for migration for education was limited since IITs, IIMs, B-Schools, and many institutions which are specialised in nature are available in most of the states.  Apart from that increasing digital literacy and study from home is also making students acquire knowledge easier. Still the migration rate is increasing.

Why?

The answer is Simple. Value for Investment.

Students need value and they are keen to achieve the same. They need value for the money they spend and from being a student, they demand knowledge and experience. It is good for a country that people migrate internally for value and is helping in overall development of the country.

http://www.un.org/en/development/desa/population/publications/pdf/technical/TP2013-1.pdf

This is a report from the UN which gives more proof for the same. The number of people migrating within country is huge. Our migration is rising when we compare with other asian countries. Australia is one of the country where intensity is most seen. If we took the case of developed countries also the rate of migration is huge.

Migration of people is creating value and the scarcity of human skill and human resources are reduced. If i am not wrong, the number of people moved from northern part of India to southern had increased many times. Building works, workers for construction sites, likewise many jobs in southern India is done by north and western people of the country itself.

Migration Process and Indian Development

If we take the major sectors that contributed to Indian growth over the past many years, services has emerged as the main. 
http://statisticstimes.com/economy/sectorwise-gdp-contribution-of-india.php

If you visit the above link, the statistics of services to GDP of India can be seen. Services can be again be broke down into various kinds like.. 
Communication, financial services, hotel, transport, etc..
Many companies, state government, public enterprises are all using the advantage of skillful migrated people. A business process outsourcing or a company like Infosys will have diversified workforce all over from India.

We are in the middle of a time were resources are so abundant and for the development the needy thing is the people who can utilise it. So , this can again be viewed in another context that governments, or people who are against internal and external migration are actually doing a barrier to the same. Let us look the history, the migrants only brought variations which provided hybrid combinations of various products, services, ideas and what not.

Predictions
The Internal Migration in India is still a big topic to research. Agenices giving assistance to migration both in inter-nation and intra-nation basis are gaining importance. My blog about internal migration in India is a limited one. The whole process of migration is in its pace and intensity is still low,
Since India might cross the China in terms of population, my prediction is that Indian migration will intensify a lot more. There will be time when gaining right pace for safe and quality migration which solves a lot of problems like ageing population (even though our nation's average age population is still young), unskilled workforce and various organisational problems, The Cultural diversity will find a new dimension and the Hybrid nature will come into existence. In future, migration will be a lot easier process, since India is a free to travel anywhere country. 
Foreign nations who are putting lock for migrants is actually reducing their capacity itself. In this blog i have not talked much about external migration. But to a great extent internal migration complements external migration also.

So, while reading this blog am sure that some of you or your relatives are people who are enjoying a lots of benefits of migration.

Thank you.

Note: This writing is inspired from the talk of  Shri. Arvind Subramniam, regarding "Surprises of Indian Economy"

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