Rupee could rise to 52/dollar by end-2013: Credit Agricole
Reuters Market Eye - Rupee could rise to 52 per dollar by end of 2013 and is Credit Agricole's top pick among the emerging markets, it says in a note.
The government winning the vote on foreign direct investment in multibrand retail will continue to help the rupee despite questions on whether the reform will be approved by the upper house and concerns about its implementation.
"The government's victory is a good sign of its ability to push through other reforms," the bank says.
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The Indian subsidiary of Anglo-Dutch parent Unilever made a net profit of 10.57 billion rupees ($175.9 million) for the three months ended June 30, from 10.19 billion rupees in the same period a year earlier. Full Article