Holistically the markets move in cycles and it has the tendency to be forward-looking. Therefore, both the good and the bad news gets discounted before it has truly occurred. The news that the West could go into recession is no longer ‘NEWS’. It has been fairly discounted by the market like it had discounted previous major events.
JSW Infrastructure has priced the issue in the range of Rs 113-119 per share. The IPO, which is entirely a fresh equity issue of Rs