Rising interest rates are a cause for concern. A one per cent hike on retail loans—especially homes and cars—has wreaked havoc in both markets. Inflation continues to be high and consumer prices show no declining signs. There's a feeling that the government may come down more heavily on manufacturers in a bid to control inflation. Both the new interest rate regime and inflation-related policies can hurt corporate earnings in the future quarters. And, banks will be hit by lower credit offtake.
That's why on April 2, the 30-stock...

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