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Positive Sentiment of Rupee Appreciation may Shoot-up the Valuation of Power/Energy Companies

News:

Indian equities wiped all its initial losses and is trading higher on Wednesday. Power and consumer durables stocks witnessed a gain while banking stocks dropped.
Source: Myiris News

SNP Insight:

Rupee higher 26 paise against dollar in early trade and positive sentiment of rupees to be appreciated to approx INR 64 by 2016 is a likely reason of shooting up the stock of Power companies. Appreciating rupee may shield the hit on the balance sheet of power/energy companies who are depended on the imported raw material/ equipment to process its workflow. 
Source: SNP Infra Research