In a recent report, Kotak Securities said that most enterprises are focused on cost reduction; moreover, trends do not indicate the possibility of recovery in discretionary spending in 1HCY24
The rupee closed at 83.3938/$1 a new record closing low. The domestic currency, which has depreciated by 0.8% against the US dollar on a closing basis so far in 2023, had closed at 83.3262/$1 on Wednesday.
How the rupee has held up - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
As the Diwali festive season gets underway, several sectors and stocks are expected to do well in India, according to equity brokerage Kotak Securities.