Capitalstars Financial Research Pvt. Ltd. |
Rupee depreciation is likely to hit badly net importers of commodities as they have pay more to buy raw material or finished products. On the contrary, exporters will definitely be major beneficiaries.
More the exposure to imports, severe the impact of rupee fall. One of the sectors that may be impacted is chemicals and agrochemicals, but IIFL feels the impact will not be same for all. While exporters can pass on to customers the cost advantage of rupee fall, in case of importers which can't pass on import cost, the pressure can likely go beyond FY19.
The research house said FY19 earnings are likely to be clouded by hedging losses and debt revaluation, so it focuses on earnings for FY20, by when the recurring impact on earnings should become more visible.
Infibeam Avenues Ltd, the operator of e-commerce firm Infibeam and the parent of payment gateway company CCAvenue, saw more than Rs 9,000 crore getting wiped out from its market capitalisation in a single day. The market capitalisation fell from Rs 13,105 crore recorded on Thursday to Rs 3,900 crore on Friday.
Deliverable quantity data needs to be analysed along with the share price. When the share price of the stock is moving down with a higher percent of deliverable quantity to traded quantity, it indicates bearishness in the share as most sellers are expecting the share price to go down.
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