Fund managers said the high foreign ownership in banks makes them vulnerable to further outflow but investors could consider them on further declines.
Punters in the currency market are betting that the rupee will slide further against the US dollar in the short term ahead of Fed meeting.
Despite undercutting competitors, PAL's operating margin is around 20% — higher than many of its peers which advertise aggressively.
According to a recent Barclays report, this is a much more severe commodity price downturn than any the market has experienced in recent history.
Considering the rich valuations of stocks in several sectors, investors seem to have turned to paper-producing companies.
Indian steel companies reeling under mounting imports from China, South Korea and Japan have urged the government to impose `safeguard duties'.
Shares of TRF, a Tata group company, have crashed 28 per cent in the last two trading sessions as investors were disappointed.
Reason is the strong earnings growth reported by the smaller companies in the first quarter in an otherwise abysmal result season.
Nestle India shares closed at Rs 6,552.1 on the BSE on Friday, recovering from Rs 5,539.8 on June 8, the first trading day after the nationwide ban was imposed on Maggi noodles.
Higher cash flows will help these cement companies to deleverage their balance sheets which can lead to re-rating of these stocks.
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