Key Points
Japanese yens fall to a 34-year low will likely have a positive impact on the Indian automotive sector and companies which import electronic items, machinery and auto components from Japan, according to analysts even as they see a neutral to slightly positive impact on the overall markets...
Maruti Suzuki, Motherson Sumi and Sharp are a few stocks that have Japanese parentage and are expected to be in focus...
Expert CA Krishnan R, Director & CEO of Unimoni Financial Services said, "The weakening of the Yen, especially to a 34-year low, can have a significant impact on various sectors in India, particularly the automotive industry..
He added that a weaker yen will make Japanese products relatively cheaper in international markets, and this will be beneficial for the Indian automotive industry, especially Maruti Suzuki...
The Japanese currency fell to a 34-year low of 151.975 per dollar last week forcing an intervention from the Bank of Japan which purchased Japanese government bonds worth Rs 87.5809 trillion yen ($578.55 billion) in the fiscal year through March, Reuters reported..
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