The reaction started due to management commentary. Moreover lending rates were reduced by 2 percent from Nov. So obviously profit will be affected adversely. Market was already jittery regarding MFI stocks and management commentary was trigger to hammer it. Present market mood is very severe for any negatives due to panick.
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The asset quality trends are not so promising either. There is lot of stress across the board on retail assets as most customers are over leveraged. A cautious stance here might not be unwarranted.
By asset quality trends, are you referring to Five Star or sectors as whole?
Regards,
Ashutosh
Disclosure : Invested
Both, expect some more deterioration before things stabilize here. The forced slow down and moderation of interest rates might help them out. The company has exhibited strong disciplined execution so far and hope the same continues.
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Two back to back resignation by Key management personnel that were leading Compliance & Audit deptt respectively. Whats brewing here?
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