The Indian angle Of BREXIT :
• With EU losing one of its members, India too can feel singed.
• Rupee may depreciate because of the double effect of foreign fund outflow and dollar rise.
• This will increase petrol and diesel prices to an extent.
• The government then may want to reduce additional excise duty imposed on fuel when it was on a downward trajectory. This will increase fiscal deficit, unless revenue increased.
• Prices of gold, electronic goods, among others will increase.
• Cheaper rupee will make Indian exports, including IT and ITeS, competitive.
• Companies In India That will be affected By BREXIT:
Tata Steel
Tata Motors
ICRA
Hindalco
Wockhardt
Tech Mahindra
MothersonSumi
Kitex Garments
Cummins India
Cipla
Bharat Forge
Note:(Those Having position in Mentioned Stocks maintain caution as Stocks may show unexpected Volatility on BREXIT voting day)