Don’t see fast policy moves: Dalton Capital Advisors
May 22nd, 2009
U R Bhat, MD, Dalton Capital Advisors said the valuations had become stretched and there was no evidence of earnings upgrade.
According to him, FY10 earnings growth was likely to be flat to negative. He feels real uptick in the earnings was likely to happen from Q4FY10.
He said more issues were lined up and he expected issuances of around USD 8-10 billion in the next 2-3 months. “We are at the bottom of interest rate cycle and I expect one more rate cut.”