Is this a market which is telling you that a strong economy, strong earnings growth and strong margin expansion is coming or is it telling you enough, it’s time to get careful now?
One always needs to be cautious because something or the other comes and hits you. There are always some kind of Black Swan events every one and a half years -- from demonetisation to GST to IL&FS crisis and now Covid -- a once in a 100-year kind of an event . Having said that, post Covid, it seems the recovery in the organised space is much faster and job losses are relatively low in the organised space.