OH GOD...
U S recession has arrived the corporate doors....& may b in for a rude shock to the economy........
profits of U S firms nosedived from 41 billion dollar in 3rd q to 19 billion $...
japanese cos r spending less on xpansion this yr....
WHEN EVERY single gentlemen is NOW talking recession recession......
on 14th dec v were almost touching it...
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& now....auto stock holders get ready for the DESI recession jhatka......
accor 2 the grapewine.....
a lot of broking houses are preparing to downgrade auto sector as the expected interest rate cut in Credit Policy did not materialise. Market men had expected at least a 25 basis point cut in the interest rate. In the event, auto companies are unlikely to show better results in the current quarter as well, analysts feel.
Moreover, the results announced by most of these companies for the quarter ended December 30, 2007, were also not that encouraging, they add............
moreever ,90% of trucks & buses r bought on loans in INDIA.....