The forex earners... and the spenders

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A majority of Indian corporates will bear the brunt of the rupee hovering at Rs 60 to a dollar as most of them are net foreign exchange spenders. We look at the top Nifty 50 companies which disclosed their foreign exchange earnings and expenditure for fiscal 2012. Since then, the foreign exchange earnings and expenditure have gone up sharply for fiscal 2013 for these companies as we await annual reports. While many companies in the power sector will pass on the rupee depreciation to their customers, some like Maruti Suzuki are planning to aggressively localise sourcing of parts.