| The report added that while Auto and FMCG reported sharp improvements in profits in '06, it appears that Cement, Pharma and Metals would lead earnings growth in '07. "Our recommended strategy and stocks: Markets seems to have taken a strong clue from the pause in the interest rate hike announced by the Fed. |
| "As we had mentioned in our first report of June'06 the markets continued to rally after a strong support at 9,000 levels and crossed 11,500, during the quarter. |
| "The Finance Minister reiterated the confidence in Indian economic growth being more then 8%. This in itself has made a strong case for FII's to invest in the Indian growth story. |
| "With the US showing signs of slowdown and along with the threat of dollar weakening, FIIs haveonce again started investing in India. |
| "As indices have shown smart increase of more than 9% during August, and are trading at FY07multiple of around 15, possibility of small correction or a sideways movement is not ruled out. |
| "As oil and interest rates, two big macro worries seems to be subsiding, broad trajectory of markets would remain positive. We believe indices will cross their earlier peak during the year. |
| "Auto, Cement and FMCG should do well. |
| "Here are our favourites : ITC, Reliance Industries, ICICI Bank, Maruti Udyog, Larsen & Toubro, ACC, Bajaj Auto." |
| Click here for the complete report |
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