Comments
Shares of Indian companies with exposure to or units in Europe were among top losers on the BSE.
Greek voters overwhelmingly rejected terms of a rescue package. The ECB may keep keep a tight funding grip on Greek banks after 'no', sources said. Companies that get at least more than a third of their revenues from Europe fell.
Tata Steel (-1.9%), Motherson Sumi Systems (-2.6%), Havells India (-0.19%), Bharat Forge (-1.97%) and Cox & Kings (-2.2%) were among the major losers. Some traders are worried that Greece default may lead to working capital constraints and demand slowdown.
Fund managers said that the fall in stock prices were temporary as Greece was almost discounted.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.