Dalal Street Investments
Top

Who is Hurt by Rupee Appreciation ?

April 30, 2007

For 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: , , ,

Comments

Got something to say?






Bottom