Saturday 11 October 2008

Mkts close to bottom; to stay consolidated: Raamdeo Agrawal

Raamdeo Agrawal, Director and Co-Founder of Motilal Oswal cautioned investors to maintain a rational approach and to be calm in these times. He believes the markets are close to the bottom and said they would remain consolidated around these levels for some time.

Agrawal feels liquidity is the most welcome step and that the liquidity infusion steps are positive. However, he feels the need for more measures. He is concerned about the integrity of the IIP numbers.

Agrawal said that the FY09 and FY10 estimates would be revisited and sees plenty of downward revision in earnings expectations. He expects consolidation to take place at the top end of the brokerage business.

Source: Moneycontrol

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