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All sectoral indices are trading in the red, while midcaps are also trading weak. Nifty PSU bank index is down over 1 percent.In an interview to CNBC-TV18, from the sideline of the IIFL Enterprising India Conference, Ashutosh Datar, Equity Strategist at IIFL Institutional Equities shared his views and readings on the market.
Datar said that focus should be on companies where earnings momentum is strong.
He further said that there are opportunities to buy and be underweight in financial sector.In a filing to exchanges, the public sector bank declared that it has exposure of over Rs 500 crore to the group. Further, it clarified that the said amount has been declared as a non-performing asset (NPA) and the required provision has been made.
It also informed that some accounts have been filed under National Company Law Tribunal as well.
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