INDIA STRIKES BACK - WAIT & WATCH

By Ruma Dubey

What happens when patience and restraint ends?

India finally conducts surgical strikes across the Line of Control (LoC) with many casualties on the other side, with no Indian fatality.

The world had expected that India will strike back after 26/11 in 2008 but we kept our restraint and did not allow the situation to escalate. After that, there have been many incursions and cease fire violations and terror attacks across the LoC but we never ever retaliated. They say that it was getting tough to keep down the Army, keep them motivated when their only job was to become fodder. We have kept our patience intact for over a quarter of a century!

But this time around, the killing of 18 of our soldiers by four terrorists was too much for the army to digest. They felt restraint and patience were words used by the weak. They wanted action, some action to show that the Indian side too knew how to fight! And that is what this well planned and very ably carried out attack by the Indian army yesterday night. Three spots, where terror launch pads were setup, the Indian army destroyed them.

Most of us are thumping our chest and saying that this is the time for India to celebrate. Yes, we replied back but celebrate when war looms large sounds almost cruel. Any form of war is bad and all hell will break lose.

The market is jittery, worried that India is going to war. When the news of this strike broke out, the markets just tanked. There was a sense of panic for that moment but once people got their bearings, comprehended with what exactly had happened, it recovered a bit though the Volatliity Index at 22% remains at a three month high.

There is a lot of uncertainty now. We did what we had to do but we now have to wait and watch what Pakistan does. The ball is now in its court. How it will retaliate will decide everything.

Those in the know say that this will not escalate into a war. It will remain a situation localized around the LoC. Ambassador Vivek Katju told in an interview with NDTV that if the Pakistan army tries to push this off as a cross-firing across the border and not concede that it was a well-planned surgical attack, it means that they themselves do not want the situation to blow out of proportion. By hiding this fact, their PM might not want to stoke people’s frenzy because once emotions run high then is when Pakistan will be forced to retaliate.

Then there are others who say that Pakistan will retaliate but it will be across and along the borders only. Remember even when Kargil war happened, the “war” as such was localized only there; it did not spread across the country.

With this strike by India, surely international calls to the PMO’s office would be ringing off the hook. Not just here but in Pakistan too with countries urging both to have restraint. We have sent out a strong message across, carrying out a superbly executed attack, dismantling their terror outfits. Yes, there is the fear of terror attacks within the country but surely our authorities are prepared for that!

No need to panic. Take the fall to build up on quality stocks, buying into them at every fall. Ujjivan, Bajaj Finance, Century Textiles, HDFC Bank, Bodal and each and every stock mentioned in our Stock Recommendation column.

Do not trade in this uncertain situation; buy as a long term investor and the India story endures and will only getter better.

Remember readiness for war is the best situation for demanding peace,