INDIAN FACE
INDIAN EQUITY BENCHMARKS slipped for the fifth day in a row to hit its months lowest level amid a weakening rupee, and after the RBI asked the government to control the widening account deficit and also lowered growth forecast. Meanwhile, the central bank kept key policy rates unchanged (Repo Rate @ 7.25%, Reverse Repo Rate @ 6.25% and CRR @ 4%) at its policy review today.
Further, All the indices were punished severely in trade today. However, technology stocks outperform with rupee’s fall as it breached the 60/USD level.
Dr Reddy’s Laboratories disappointed on all parameters with the first quarter net profit growing lower-than-expected 7.44 percent year-on-year to Rs 361 crore.
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