periods, risk aversion persists in debt markets. Therefore, plausibility of capital raise, higher funding costs and bleak growth outlook stand imminent for the fiscal. As clarity w.r.t moratorium delinquency should emerge only in Sep'21, we maintain a wait and watch mode on the NBFC space. NBFC stocks witnessed avg. 20% upward price momentum over past three months. While markets have factored low moratorium percentage in Round 2 and rightly so, the slippages from this very moratorium book will be key towards performance appraisal of NBFCs. We prefer players with high capital and...