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Russian oil spill may slide Dr Reddy's, Glenmark in Q3

 
• By Anju Ghangurde

The devaluation of the rouble is expected to hurt the fiscal Q3 earnings of a clutch of leading Indian firms, with the negative effect potentially spilling over into the fourth quarter as well, some analysts say.

The devaluation of the rouble is expected to hurt the fiscal Q3 earnings of a clutch of leading Indian firms, with the negative effect potentially spilling over into the fourth quarter as well, some analysts say.

Plummeting crude prices had earlier fuelled a sell-off in the rouble, with the Russian currency falling to a record low against the dollar in December 2014 and declining by more than 40% last year – its worst performance since 1998 when Russia defaulted on local debt,

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