These top 10 stocks are likely to get impacted the most if rupee hits 72-73 mark
Most experts are penciling in a near-term target of Rs 72-73 per US dollar for the rupee. Both local, as well as global factors, are weighing on the currency.
Globally, nagging concerns over rising crude oil prices and trade war continue to impact the forex market sentiment. Back home, the heightened risk associated with the swelling current account deficit due to rise in oil prices have contributed to the volatility.
Rupee depreciation will directly impact IT and pharma sector companies which earn most of their revenues in US dollars. However, some of the companies where cash flows are hedged may not benefit as much as the other players in the sector does.
Published Date: Sep 4th, 2018 01:17 PM | Updated Date: Sep 04, 2018 01:17 PM IST
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more