On Wednesday, the local unit had closed at 83.4350. So far in 2024, the rupee has depreciated 0.3% against the US dollar on a closing basis.
Tata Motors has launched a €14.1-per-share cash tender offer for Iveco Group, valuing the Italian commercial vehicle maker at €3.82 billion. Backed by Iveco’s largest
Kotak Securities estimates ITC’s tobacco business is valued at just 11X forward earnings, suggesting potential undervaluation. The brokerage sees stronger growth in non-tobacco businesses and
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