Firms with higher export revenues also caught the fancy of investors as depreciation of rupee would boost support topline.
Shares of companies with minimum dependence on crude derivatives have managed to hold up in the midst of the market turmoil, as boiling oil prices battered the overall market sentiment. Firms with higher export revenues also caught the fancy of investors as depreciation of rupee would boost support topline.
For instance, Cipla, which generates nearly 60% of its revenue from other nations has topped among the Nifty100 members with a 15.4% surge. Cigarette maker ITC features third in the league table with 12.3% gains. In FY21, the cigarette business contributed 42.7% of its revenue and another 23.2% came from branded packaged food products, Bloomberg data shows.
