Pace of FII selling could lead to a nasty fall in markets -Raamdeo Agrawal

Raamdeo Agrawal, Director & Co Founder, Motilal Oswal Financial Services said no major surprises were there in the current earning season. JLR & Corus will change Sensex FY11 EPS estimate. The pace of FII selling could lead to nasty fall in the markets.

He further added that RBI’s GDP projection of 7.5% will go well with corporates. He was disappointed by L&T’s numbers but feels that company’s business is lumpy. He expects current disappointment in L&T numbers to be temporary and the company will report strong numbers after 2 quarters. He believes that one can’t expect any concession in budget. Also, there are some fears of hike in excise duty in budget.

Source:  Moneycontrol.