SP Tulsian of sptulsian.com told CNBC-TV18, “Due to rupee weakness, companies in the past too have taken a lot of hit because of debt and the interest payment. Companies like JP Associates have a debt of Rs 55,000-56,000 crore on consolidated basis. Bharti Airtel and Tata Steel also have a huge chunk of foreign debt.”
“Definitely, these stocks are looking quite vulnerable. Lack of buying interest across the board in the market as the focus is only on few frontline stocks, it is better to go short on them,” Tulsian said.
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