Who is Hurt by Rupee Appreciation ?
Monday, April 30, 2007For the first time, RBI is out of the Forex market and the Dollar had a free fall against Rupee. This is surely going to hurt the exporters. Merill Lynch in a report released just a while ago states that global commodities and software sectors are the worst hit.
Global Commodities majors such as Reliance [RIL] Hindalco, Tisco will be the worst hit until the rupee recovers. Patni Sasken and Infosys are the worst hit in Software sector because of no forward hedge. Tech Mahindra and is the least hit because major sources of its revenues are from Europe.
Other losers include Cairn, pharma stocks like Dr Reddys, Divi’s Lab and textile names (Welspun and Gokaldas).
Tags: Invest India, Dalal Street, Forex, Dollar
Labels: Rise of Indian Rupee
Dalal Street Business Reports
- RIL Plays Havoc on BSE Sensex
- Eicher Motors advances on US Acquisition
- SunTV to Launch Kids Channel
- Affordable Housing - Realty Scrips Sky Rocket
- Holcim hikes stake in Gujarat Ambuja Cements
- Indian Pharm Acquistions - Cadila, Stride Acrolab
- Rayban Sun Optics India Open Offer Revised
- ICRA Lists at Rs 570 on NSE
- Infosys FY2008 Guidance at 22.8%
- Jet Airways to Crash. Citi Puts Aggressive SELL
