Larsen & Toubro (LT IN)​: Share Buyback Propels the Stock but Will It Be Bad for the Business?

Deputy Chief Economist

Sharmila Whelan

Independent and original Asian investment research

Aletheia Capital

Aletheia Capital (HK) Ltd. (previously known as Asianomics) combines the extensive knowledge of its experienced team with technology and regulatory changes to disrupt Global Markets business in Asia. The firm is completely independent with no conflicts of interest either on Investment Banking advisory or Capital Markets execution.

Macroeconomics

<p>Emerging markets have been rattled by the deepening balance of payments crisis in Turkey and Pakistan. In both countries international reserves are falling fast in the face of widening current account deficits and their currencies are rapidly losing value against the US dollar as investors fret about the ability of highly dollar leveraged Turkish and Pakistani companies to honour foreign debt liabilities.  These concerns are spilling over to other emerging markets. In Asia the Indian rupee…</p>

Emerging markets have been rattled by the deepening balance of payments crisis in Turkey and Pakistan. In both countries international reserves are falling fast in the face of widening current account deficits and their currencies are rapidly losing value against the US dollar as investors fret about the ability of highly dollar leveraged Turkish and Pakistani companies to honour foreign debt liabilities.  These concerns are spilling over to other emerging markets. In Asia the Indian rupee…

India, Indonesia & Philippines - Further Currency Weakness, Higher Rates To Come