Former RBI Governor Duvvuri Subbarao said that the rupee is not as vulnerable as it was during the 2013 taper tantrum. "In 2013, the rupee was under pressure because it was overvalued and bled suddenly. Now, the rupee is tracking fundamentals," he said.
Dr Lal gained for the seventh straight day on Wednesday. Just a few weeks ago, a leading brokerage initiated coverage with an underperform rating with a potential downside of 45 percent.
The RBI is all set to reveal the outcome of deliberations at its rate-setting panel — the Monetary Policy Committee — at the end of a three-day meeting on Friday. Economists expect RBI Governor Shaktikanta Das to announce a hike of 50 bps in the repo rate — or the key rate at which the RBI lends short-term funds to commercial banks.
The shares of the two-wheeler manufacturer were trading 1.6 percent lower at Rs 2,596 on BSE at 1:42 pm. 
Nestle India shares were trading in the green on Wednesday even as brokerage firm CLSA has a sell call on the firm. This is days after the world’s largest food company announced its ambitions to invest Rs 5,000 crore in India by 2025.
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