Jul 29, 2013

Sensex crashes 769 points Rupee hits 62

Update Aug 16: Changed the title of the post from "Indian Economy crashed on Q1 2013" to

Indian companies reported its worst results in five quarters.
After Suzlon energy, Lanco Infratech Ltd.  to go for a major loan restructuring.
NPA growing in quarterly reports filed by banks like Vijaya Bank, Allahabad Bank.
Profit of Cement and  Infrastructure companies are taking a toll. See the performance of Larsen , JP Associates etc.

Jaiprakash Associates tumbles over 20% in four sessions. Jaiprakash Associates hits 52-week low on Q1 earnings
Jaiprakash Associates fell 2.16% to Rs 40.85 at 12:53 IST on BSE as the company's Q1 June 2013 result was boosted by an exceptional non-recurring income.
-Business Standard says

India’s largest engineering and construction conglomerate was the worst Sensex performer of the week, with its shares losing 13.2 percent after June-quarter results disappointed markets.

The company warned of a tough road ahead when it reported a 12.5 percent fall in net profit on July 22, as a slowing economy continues to hurt. Shares in L&T fell more than 7 percent on results day and ended in the red in all but one trading session this week.
-reports Reuters.com

The sector that is showing good performance now is IT as the business is outside India? or due to Mutual Fund's interest or due to weak rupee?

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