Maintain ‘buy’ on M&M as our top pick in the sector

We estimate the carrying value of SYMC on M&M books to be ~Rs 12.6 billion, thus a write-off of this amount may also need to be taken in case SYMC files for bankruptcy and the stake sale does not take place. But this will not be a cash loss.

from The Financial Express https://ift.tt/38hyfwb
https://ift.tt/eA8V8J Nomura