|Chennai||Rs. 28730.00 (1.13%)|
|Mumbai||Rs. 29740.00 (-0.13%)|
|Delhi||Rs. 29200.00 (0%)|
|Kolkata||Rs. 29350.00 (0%)|
|Kerala||Rs. 28000.00 (0%)|
|Bangalore||Rs. 28400.00 (0%)|
|Hyderabad||Rs. 28470.00 (-0.11%)|
Alternatively, it prefers businesses where operating profits are unlikely to be hurt much by the economic slowdown, such as United Spirits Ltd.
The investment bank says INR's 36-country real effective exchange rate, or REER, is close to two-decade lows. Potential INR stability or appreciation can help drive down WPI and help rate cuts, it says.
However, the market belief that this means a risk-on rally is 'premature', the note says.