India Inc has put its investment plans on hold. And that may not be a bad idea!

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According to a latest RBI data, for most private-sector companies the capex activity has remained subdued, with the focus being on building up cash reserves. Many large corporates had made big investment announcements during peak bull market. Are recent global uncertainties forcing them to be more defensive?

Over the past few months, many bluechip companies including Reliance Industries, UltraTech Cement, Grasim Industries and Divi’s Laboratories have announced large capital-expenditure plans. While the move is an important indicator depicting the renewed interest among corporates in investment activity, broader data from the Reserve Bank of India (RBI) shows that capex revival at macro level is yet to pick up steam. If anything, capex activity

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