INDIA'S FINANCIAL STRESS: Follow the Free Cash Flows from indian stock market index Watch Video
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Description: Updated Indian financials show that companies remain worryingly over-leveraged and are still reporting free cash outflows, although these are beginning to abate. While we are approaching the end of capex cuts needed to get the corporate sector into free cash inflow territory, balance sheets will still have to de-lever. It is unlikely that the corporate sector can sustain an investment upcycle until 2018 at the earliest. As such, profits will disappoint as, most likely, will the stock market. Mea
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