Today, Shares of Bajaj Auto fell down 2 per-cent intraday on concerns that its export may get hurt. The new Argentina govt. depreciated its currency in order to revive sluggish growth.
Argentina's peso plunged more than 26.5 per-cent thursday. Latin America contributes 20 percent of Bajaj Auto’s exports with Argentina being one of the key growth markets. Exports overall account for 50 per-cent of its revenue and enjoy 20 per-cent EBITDA margin.
European shares have surged after the US(United states) central bank increased interest rates for the first time since 2006.
The UK's FTSE 100 index ended 0.7% high, while the main indexes in Germany & France saw much bigger increases.
The USD also rallied in comparison to other currencies after the US Fed Reserve hiked the range for its benchmark rate to between 0.25% & 0.5%.
But after a bright start, Wall Street lost surface in noon trading. The Fed said the rise was part of a "gradual" process to get rates back to normal.
Argentina's peso plunged more than 26.5 per-cent thursday. Latin America contributes 20 percent of Bajaj Auto’s exports with Argentina being one of the key growth markets. Exports overall account for 50 per-cent of its revenue and enjoy 20 per-cent EBITDA margin.
European shares have surged after the US(United states) central bank increased interest rates for the first time since 2006.
The UK's FTSE 100 index ended 0.7% high, while the main indexes in Germany & France saw much bigger increases.
The USD also rallied in comparison to other currencies after the US Fed Reserve hiked the range for its benchmark rate to between 0.25% & 0.5%.
But after a bright start, Wall Street lost surface in noon trading. The Fed said the rise was part of a "gradual" process to get rates back to normal.
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