Brazil's Downgrade to 'Junk' Hits Indian Pharma, Power Shares

Standard & Poor's downgrade of Brazil to "junk" hit those Indian companies that have exposure to the troubled Latin American country. Many stocks traded significant lower than benchmark Nifty, which traded down 1.2 per cent. Torrent Pharma, which received 13 per cent of its revenues from Brazil in FY15, and Glenmark Pharma, which got 5 per cent of revenues from Brazil, saw selling pressure. Torrent Pharma shares were down nearly 3 ...