Monday, August 04, 2008

Gold prices are weakening.

Who is looking at corporate results?

Most June quarter results are out and it’s a sad story. What IIP numbers showed at the start of the year, inflation numbers stressed in the mid…is being reinforced by India Inc’s results. Jogin, Dakshinamoorthy, Sridevi and Khan were a worried lot. Growth has definitely slowed? Operating profits surely seem to indicate that! Then, are the Sensex targets based on lofty profits achievable? Forex losses hit hard and so did debt. Any hopes of a quick turnaround are too optimistic. The number of loss-making companies at the net level in the June quarter is 249! Market Chat today debates this topic and looks at what lies ahead…
* * *
Jog: Some technical guys r calling bottom!
Sri: Looking @ results am nt sure!


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