After plunging to a record low in yesterday's trade, the rupee recovered by 27 paise to trade at 54.23 against the dollar on the Interbank Foreign Exchange market in early trade today on selling of US currency by banks.
Dealers said besides dollar selling by some banks and a higher opening in equity market, gains in the euro overseas against the American currency supported the rupee.
The rupee had plunged against the dollar to a historic low of 54.56 before closing at 54.50 in yesterday's trade, a lowest closing ever.
Meanwhile, the 30-share BSE Sensex recovered by 151.56 points, or 0.94%, to 16,181.65 in early trade today.
Indoco Remedies is trading higher by 5% at Rs 61.70 ahead of the bonus issue and stock split proposed by the board of directors.
The board of directors of the company has fixed May 19 as the record date for the purpose of sub-division of shares of face value Rs 10 to five shares of face value Rs 2 each and issue of bonus shares in the ratio of 1 bonus equity shares for every 2 existing equity shares held in the company.
The stock opened at Rs 60 and hit a high of Rs 63 on the National Stock Exchange. A combined 17,646 shares have changed hands on the counter in morning deals, against an average sub 15,000 shares that were traded daily in past two weeks.
Dealers said besides dollar selling by some banks and a higher opening in equity market, gains in the euro overseas against the American currency supported the rupee.
The rupee had plunged against the dollar to a historic low of 54.56 before closing at 54.50 in yesterday's trade, a lowest closing ever.
Meanwhile, the 30-share BSE Sensex recovered by 151.56 points, or 0.94%, to 16,181.65 in early trade today.
Indoco Remedies is trading higher by 5% at Rs 61.70 ahead of the bonus issue and stock split proposed by the board of directors.
The board of directors of the company has fixed May 19 as the record date for the purpose of sub-division of shares of face value Rs 10 to five shares of face value Rs 2 each and issue of bonus shares in the ratio of 1 bonus equity shares for every 2 existing equity shares held in the company.
The stock opened at Rs 60 and hit a high of Rs 63 on the National Stock Exchange. A combined 17,646 shares have changed hands on the counter in morning deals, against an average sub 15,000 shares that were traded daily in past two weeks.
