Exporters slump on rupee strength

Tags: Companies
Shares in India's exporters, which led the rally late last year and into early this year, slump after the rupee hits its strongest in 11 months against the dollar.

Exporters also suffer as investors switch to sectors with a domestic focus such as banks and infrastructure on hopes the government led by Narendra Modi will spark a recovery in the domestic economy.

Software exporter Tata Consultancy Services Ltd slumped 5.4 percent, while Dr.Reddy's Laboratories Ltd was down 6.2 percent and Lupin Ltd lost 3.6 percent as of 11:11 a.m.

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