The impact is already evident in the domestic steel sector - SAIL would be the hardest hit.
Indiabulls stock ended about 40% higher at Rs 148.15 on Monday.
Titan Company started off with extremely high multiples in the first decade of 21st century but since 2007, the stock has returned 700% or 23.2% annually.
This will lead to massive net worth erosion for Adani Power. Till date, it has accounted for close to Rs 9,000 crore. Analysts expect a write off of Rs 5,000 crore.
The domestic price of sponge iron has risen by over 64% to around Rs 18,000 per tonne in April from the lows seen in mid-2016.
ABS is widely used in the manufac turing high quality plastics for auto and consumer appliances. India's total capacity is about 360,000 tonnes and demand is growing at double digits.
Over the last two years, it has acquired clients such as Asian Paints, ITC, Nestle, Sun Phar ma, Aurobindo phar ma, and MRF among others for providing cables at their plants.
The management also pointed out that other businesses too have started to show results. Most of the remaining businesses come from the watch division, which too has revived.
In FY16, Westlife introduced McCafe within its existing stores, which helped in boosting same store sales growth (SSSG) and overall margin.
“The interest expense in the next financial year will fall sharply as we continue repaying debt,“ said Rajeev Gupta, CFO, KEI Industries.
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