The Nifty had dropped to a low of 7,511 on Tuesday, the March 24 before recovering to 8,641 on Thursday compared with 12,151 at the time of November 2019 expiry.
However, the company is free to sell at existing market prices to nonsanitiser manufacturers including antiseptic, aftershave, and cosmetic products.
FMCG and pharma stocks are expected to be the least affected and offer higher earnings stability.
Tata Communications is the largest company in the country’s enterprise data segment.
First of such double-digit drops from the peak was in March 2000 amid the dot-com bubble burst.
At the end of the December 2019 quarter, the company had total cash of Rs 20,068 crore and debt of Rs 21,555 crore.
A sharp fall in crude price in the past has been followed by a sharp drop in equities of EMs.
The stock has been making new highs on the bourses following higher earnings growth.
Despite investing heavily since Chandra took charge, experts feel it will take the group 5-7 years to get going.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon