Kotak securities just minutes ago released a report on not to rush to BUY amidst the panic buying in the market today.
Kotak has cut fy10 and fy11 EPS for SENSEX by 2.8% and 2.9% to Rs 913 and Rs 1098 respectively.
Led by Real Estate, Metals and Telecom were the major disappointments.
Cement, Consumers and Technology delivered moderately better.
There is no scope for earnings upgrades feels Kotak however, they are worried about further downgrades in Cement, Energy and Telecom.
We recommend investors to keep bottom fishing @ SENSEX = ~15,000 and lower levels those who are investing with a perspective of atleast 18 months [ya then we expect GDP revised further and a P/E spike for sensex]
