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Foreign fund managers increased selling of Indian equities in early August due to tariff concerns, a weak rupee, and poor corporate earnings. Financial services and IT stocks experienced the most significant selling pressure. Investors offloaded shares worth 34,022 crore across various sectors, driven by muted earnings expectations and uncertainty surrounding India-US relations, impacting market sentiment.
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SBI Chairman CS Setty advocates for regulatory flexibility, urging the RBI to allow local lenders to fund corporate M&As, particularly for listed companies with transparent shareholder approvals. This comes amid discussions on evolving corporate credit trends, with banks shifting towards short-term working capital.
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Investec reports an improved risk-reward scenario for most IT services stocks, projecting potential one-year returns exceeding 10-15%. The brokerage upgraded Infosys to 'Buy' with a target price of 1,655, anticipating an 8% gain. Tech Mahindra, Infosys, and TCS are favored among larger stocks, while Mphasis, Zensar, and KPIT are preferred in the mid-sized category.
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