Reuters Market Eye - The rupee falls to 51.57/58, after hitting an intraday high at 51.32, on outflows related to a stock stake sale, several dealers say. The pair closed at 51.74/75 on Thursday.
Several dealers cite USD outflows related to Carlyle Group's estimated $841 million stake sale in mortgage lender HDFC(HDFC.NS).
State-run bank dealer tips 51.35-51.75 range for the rest of the session; expects oil bids.
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Anil Ambani's Reliance Group has never made a military helicopter, missile system or submarine in its history but that isn't stopping the Indian tycoon from seeking to win contracts to manufacture all of that military hardware and more. Full Article