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Bangladesh Bank's halt on circulating newly printed banknotes featuring Sheikh Mujibur Rahman has triggered an estimated Taka 15,000 crore financial loss and a shortage of clean currency. The interim government's directive to keep these notes locked in vaults has disrupted daily cash transactions, leaving the public struggling with old, torn notes.
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The market construct looks quite positive. But I do not think we are out of the woods yet. My concern would be how the economy shapes up globally and for India over the next 12 months we still think there are headwinds to corporate earnings and the risk premium which actually has not really flared up, we have to keep watching that.
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Neeraj Dewan is cautious about large and mid-cap IT stocks due to high valuations and potential US headwinds, anticipating profit-taking. He also avoids ferrous metals like Tata Steel due to a lack of clarity and weak rebound. Dewan suggests caution on non-ferrous metals and sees continued outperformance in defence stocks like Mazagon Dock and HAL.
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News and Media
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