Analysts and Brokerages Views and analysis round up - 15 Apr 2008

R Sukumar of Franklin Templeton said the markets will see more declines than advances. "Another 10% downside cannot be ruled out from current levels. News flows will remain negative from a fundamental perspective."

Sukumar expects earnings to grow in 15-20% band instead of 30% earlier. "Forex derivatives losses will also impact profitability."

Nitin Rao, Executive VP, HDFC Bank recommends people to start looking at fundamentals more closely. “We strongly believe that the fundamental valuation levels for the market would point to a forward P/E range of 17 and we strongly believe that these levels offer attractive investment opportunities for investors over a one-year period at least” he says.

SN Rajesh, Director of UTI Ventures says that while picking up companies, they look at the execution capabilities because growth capital and a lot of success comes from their execution capability and the ability to build big.

Rajen Shah of Angel Broking said Infosys’ numbers would be very much in line with its guidance. "The new guidance for FY09 could probably be lower than what the market estimates because they will factor in maybe a rupee appreciation. In order to control inflation, we could probably see the government letting the rupee appreciate."

rk
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