Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.
'The approach towards Mallya is not right because his unit could have been turned around earlier with additional funds from his side and the bank's side.'
There are some advantages of a falling rupee.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
'There is no change in the overall story of economic recovery.'
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