Fri, Nov 8, 2024 6:17 PM
Amara Raja, Exide Industries slide up to 30% from recent peaks
A Flip by Shubhangi Gupta
📌The top gainers in the Nifty index included Mahindra & Mahindra (up 2.89%), Titan Company (up 2.10%), Tech Mahindra (up 1.84%), Infosys (up 1.49%), and Nestle India (up 1.45%). 📌Conversely, the top losers were Trent (down 3.18%), Coal India (down 2.60%), Asian Paints (down 2.58%), Tata Steel (down 2.24%), and Shriram Finance (down 2.03%).
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The INR is likely to see further depreciation against the USD in the near term owing to Donald Trump’s presidential win. This has fueled an expectation that the dollar index will remain high, currency experts said. The rupee remains volatile, evident from the dip in India's forex reserves in the last four weeks. Per RBI’s data, forex reserves dipped $3.463 bn during the week ending October 25.
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DCX Systems secures a Rs 460.30 crore order from Lockheed Martin USA for electrical assemblies, building on a prior Rs 16.53 crore deal, and strengthening its position with top global defence contractors. The company's order book stands at Rs 1,937 crore, with a growing pipeline, as India's defence sector is expected to reach $70 billion by 2030.
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