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Carnage Much Worse Outside Nifty: Madhusudan Kela

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Aug 30: Madhusudan Kela, Chief Investment Strategist at Reliance Capital, says there are about 10 companies holding up the Nifty, which is not reflective of the trouble beyond the index. Large companies with big assets are flailing as debt piles up, he says, adding that total corporate debt surged five times to Rs.20 lakh crore. “When working to rescue the situation, authorities must give growth priority,” he stresses.