Asset cutbacks confront corporate India
As debts pile up and revenues fall, some of India’s largest businesses are consolidating or selling assets. While relatively few deals have emerged so far, many firms have little choice but to push through divestments. It could well shake up some of the country’s key sectors.
In Asian research circles, brokerage CLSA has tended to lead the cheerleading for India’s businesses and economy.
So when it reported in March that the country “is one of the riskiest markets to be in”, it was wise to take notice.
CLSA glumly pointed to the combination of
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