The Indian rupee hit a record low against the dollar on Thursday, pressured by dollar demand linked to the maturity of non-deliverable forward positions and corporate hedging, while the central bank likely intervened to hold it above the psychologically significant 92 level.
Mahindra Holidays and Resorts India reported a 94% plunge in third-quarter profit on Thursday, dragged by a one-time charge following the roll-out of India's new labour codes and slower membership growth.
India's Deepak Fertilisers and Petrochemicals reported a 43.6% fall in third-quarter profit on Thursday, as softer agrochemicals demand and rising input costs squeezed margins.
