Tumbling Rupee will severly impact Corporates. SEBI intervenes....
The rupee touched a lifetime low of Rs 61.21 to a dollar earlier on Monday, forcing the central bank and capital markets regulator Sebi to announce steps to curb speculative trades in currency derivatives.
Although the Indian rupee improved substantially, the gains may be short-lived.
Corporates, especially those in the auto, aviation, consumer durables and oil sectors, will be "severely impacted" by rupee depreciation due to large overseas debt and limited hedging.