Sectors like airlines, hotels, retail, automotive, consumer durables which represent discretionary spending were significantly impacted
There are countless examples of corporates supporting horrible regimes. United Fruit, Shell, Rio Tinto are some of the better known cases
Shift in consumers' preferences to value-based purchase and extension of 'end of season sale' compound retailers' woes
The impact on Infosys, Wirpo and HCL Tech would be in the range of 60-90 basis points