Jaypee, Essar, GMR, GVK, Lanco, Abhijeet groups debt rise despite falling cash flow, says UBS
Duty cut on raw material imports are not likely.
Tata Steel, SBI, L&T and Sun Pharma advanced 2-5% each.
M-cap of 35% of BSE-500 companies, excluding financial ones, is below their debt or just a shade above
With their balance sheets under stress, private companies have lost interest in them.
In the December quarter, Sensex earnings had contracted 5 per cent.
Any change in rates would mean more volatility; else, poll outcome-fuelled rally expected to continue.
The country imported 9.31 million tonnes (mt) of steel in FY15.
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Cumulatively for the first two quarters till now, the advance tax collections from the Mumbai zone, which contributes over a third of the income tax collections nationally, have grown 11 per cent, the official said.
