The company’s volumes grew 8.5 per cent annually to 265,000 tonnes in the past five fiscal years.
The country’s top three carmakers said one in five applications for car loans is being rejected.
Given the fiscal constraints, tax cut for an extended period appears unlikely.
Global central bank balance sheets hover around $25 trillion, nearly four times the level in 2008.
Similarly, every $10 movement of crude impacts India’s GDP by up to 40 basis points.
The company has prospective orders worth Rs 8.4 lakh crore for the first nine-months of FY20.
Projected EPS of auto companies have been slashed 15-35 per cent for FY20.
Rebates for PVs are now as high as 29% while truckmakers are further pushing up the meter to 20-25%.
According to Bloomberg consensus estimates, revenue growth is projected to be 22.09 per cent for 2019, which is significantly higher than the nominal GDP growth.
The worst hit could be Indian Bank as Allahabad Bank has net NPAs exceeding its net worth.
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