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The Indian rupee could drop below 90 per dollar this year as the monetary authority moves away from its implicit quasi-peg to the dollar, according to Gavekal Research. Analysts Udith Sikand and Tom Miller noted that a larger depreciation of about 10%, bringing the rupee to 95, is "not out of the question." They also mentioned that the authority faces the challenge of lowering interest rates without triggering a more significant currency decline.
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News and Media
British telecom firm Vodafone has sold its entire stake in Indus Towers for Rs 2,800 crore, the telecom infrastructure firm said on Friday. Vodafone has sold 7.92 crore or 3 per cent stake in Indus Towers and used Rs 890 crore from the proceeds to clear lenders dues, the company said in a regulatory filing.
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News and Media
Ambit initiated a "Buy" rating on GMM Pfaudler with a 24-month target of 2,400, citing an 89% upside driven by end-user capex rebound and diversification strategies.
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News and Media
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