Until recently, liquid funds were seen as an alternative to the savings bank account. But they took a hit after the emergence of poor quality bonds in the portfolio of some of these funds leading to a fall in their net asset values (NAVs). The returns or NAVs of these schemes are expected to be more volatile and shrink further, given the recent revision in the debt valuation norms by the Securities and Exchange Board of India (Sebi).
Can the defence sector continue firing after 100% gains?
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