India covid-19 India

Stock markets are low on steam as results show covid-19 scars

Maruti. Its operating-level losses in Q1 was a bit of a dampener. Auto companies such as Tata Motors and TVS Motors also suffered operating-level losses as sales volumes tumbled, which coupled with high fixed costs dragged profits.For some companies, rising debt may compound the covid-19 impact.

JSW Steel is a case in point.Banking companies are showing less impact of covid-19 just yet, but provisioning has been rising.

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