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Continuing its rise, the rupee surged to a two-and-a-year high of 63.44 against the US dollar on Tuesday. This is the highest value for the rupee against the dollar since July 2015. While IT, pharmaceutical and textile stocks may come under pressure, as the strong rupee affects exporters, oil marketing company stocks, IOC, BPCL and HPCL, along with paint majors, such as Asian Paints and Berger Paints, stand to benefit as they import crude oil.
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