The investment outlook is too early to write off: As CMIE Capex releases Q1FY18 numbers, at a cursory glance, the data may not cheer. Yet we remain positive. Barring Q4FY17, over the last ten quarters, the trend in net investment addition eked out a weaker trend. This quarter was no different. Adding to that, the proportion of change in outstanding investments is actually contributed by variation in cost. (Refer Exhibit 1 and Exhibit 2). Further, the aggregate value of projects scrapped in the June 2017 quarter, CMIE opines, was Rs.2.4tn. Here, 52 projects were scrapped between April and June 2017, as per CMIE. And the prominent projects among them include: (a) Mithi Vardi Automic Power Plant worth Rs.600bn; and...