Friends,
I have been asked to comment on Satyam Issue.
Well here is what I think.
The debacle has done more bad to Satyam itself.The stocks may still fall.I am also learning that L&T subsidiary has invested in Satyam and hence L&T also may get battered today or next week as news gets out.
I donno know but how FII's shows the courage to critisize Indian Cos when they have messed up the whole American system.
I just got a mail showing CLSA that how much Indian cos will get affected due to the Auditers who are also auditing other cos.Instead of looking at their house which is burning terribly they comes here to give expert view.
The Auditers is none other then a foriegn co named Pricewater Cooper!
They have given some 15 stocks list which are said to be Audited by Pricewater Cooper house!Is this standard of USA co.This is how they audited?
I donno but CLSA itself must be headdrown in this mess or in USA.No one is knowing what is with CLSA.Hence howmuch to rely on CLSA report or any forieng Insti is a question.
But one thing is clear and that is, even A gr cos are no good when we use to questions the management of Cash gr cos.This vindicates my view that there is nothing like good or bad management.It all depends on how cos pans out.
Well, reagarding market I think there can be some more down side but by next week we should be back to normal.This is my thinking and I may prove wrong.......