The sole advice is do not panic. These are the times that will test very astute investors and the data points coming out of the US are very scary. They have not seen 8.6% inflation in the last 40 years. So their central bank does not know how to deal with this. They are in uncharted territories right now.
But in India, we have seen inflation at 7.8%. The last inflation print was that and probably today or tomorrow, they will be coming out of the May print which I believe is lesser than that because of the way we have handled crude domestically. We have not passed that on to the consumers. So, India is on a better footing in managing high inflations. Secondly, one more thing that works in our favour is that commodity prices, crude apart, are coming off to some extent.
I feel that inflation will peak out by September or so and then probably start tapering down and that will be good news for our central bank. Let us hope people do not panic and use this opportunity to go out of the weak sectors and stocks that one is not comfortable. We have been cautious all along since the beginning of the calendar year and we continue to be so. But that does not mean that we do not work towards identifying opportunities to pick as and when there is panic in the market and we get into these stocks at prices we are comfortable with.