Some fund managers believe mid cap stocks as a whole may not un derperform large caps.
India is still one emerging market where foreign investors are looking to buy the dip.
Analysts see potential in the long-term prospects of some of these companies.
While trade are optimistic on the prospects of paint and tyre Cos, they are bearish on aviation stocks.
Dish TV reported a consolidated net loss of Rs 28.3 crore.
The Nifty Pharma index tumbled 3% with Sun shares dropping 4.3% to a sixmonth low.
Fund managers remain cautious about their prospects especially after the runup in their shares
FMCG segment is likely to benefit the most from the onset of the goods and services tax (GST) regime.
Analysts said a majority of defence-related equipment is imported and this development could provide a boost to manufacturers whose capacities are underutilised.
PNB shares closed 4.55% higher at Rs 174.55 on Tuesday after it reported a net profit of Rs 261 crore.
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