The strengthening of the dollar globally and the record outflow of it from the Indian equities have forced the rupee to be above 84 level for quite some time. Last Thursday, it touched a new low of 84.10 against the dollar.
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
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
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