>GOOD TIMES MAY NOT LAST LONG FOR A FEW INDUSTRIES (KOTAK SECURITIES)

■ Good times may not last long for a few industries.

■ Returns of Indian companies have been very high historically

■ Historically favorable factors may be less supportive in future

■ Automobiles, cement and gas transportation may be the worst impacted

■ Demise can be swift and unexpected, telecom experience can repeat almost anywhere.

To read the full report: INDIA STRATEGY