Driven by buoyant narratives & robust profitability in the past, stocks of many public sector banks rose over 400% since 2020. They have fallen sharply over the last few months.
In 24 January report, Hindenburg Research said stocks of Adani Group’s 7 listed companies 'are 85% overvalued'. At least 3 of these have since seen their stock price fall by almost that amount.
As discounted Russian barrels increasingly flow to China, Indian refiners lift more from Saudi Arabia, Iraq and the UAE, while also eyeing Venezuelan cargoes to diversify risk.
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