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"The company has not outsourced any collection activities in its vehicle finance business to any third-party agencies and, therefore, the company does not expect any impact on collections in this business," M&M Finance said in a statement.

Goldman said it expects margins to improve further and is forecasting FY24 to be the first year of adjusted EBITDA profitability for Paytm. This could be a key catalyst for the stock, it said.Goldman said if the Reserve Bank of India removes the ban on Paytm Payments Bank to onboard new customers imposed in March 2022, it could be another trigger for the stock. One97 Communications owns 49% in Paytm Payments Bank (PBBL).

In the BSE500 index, 345 stocks settled in the red, whereas other 155 stocks posted gains for the week. Only eight stocks were able to rise 10 per cent or more, whereas the same number of stocks clocked double-digit cuts. Benchmark indices - BSE Sensex and Nifty 50 - dropped over a per cent each, while midcap and smallcap indices underperformed as they shed 2 per cent during the week. The BSE500 index was also down by more than a per cent.

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The Reserve Bank of India is estimated to have sold up to $2 billion Friday to stem the rupee’s rout, market sources told ET. At three public sector banks were seen selling dollars through a combination of spot, forwards and futures market, they said.

Public banks are just marginally higher than where they were pre-Covid despite substantial improvement in their asset quality ratios. On the other hand, the improvement in valuations for private banks has been relatively slower," said the brokerage.

"Multi-tasking does not allow you to give due attention to a specific action. And that creates some friction between what you are supposed to deliver and what you are not supposed to. Focusing and concentrating on doing just one thing at a time will enable you to finish that work in the shortest period. Also, the output will be far superior in terms of quality."

The renewed selling pressure in markets came in a week that saw the U.S. Federal Reserve raise interest rates by three-quarters of a percentage point for a third straight time and a vow to keep it going until inflation is under control.

If the S&P 500 closes below the mid-June low in the days ahead, that may prompt another wave of aggressive selling, Stovall said. This could send the index as low as 3,200, a level in line with the average historical decline in bear markets that coincide with recessions.

Furthermore, it believes that the current scale of the business and flexibility in cost structure allows the Indian IT companies margin leverage. Salary costs have the highest mix within total costs with 50-55 per cent of revenues.