MUMBAI: Moody’s has said that most Indian companies it rates are insulated from the adverse effects of rupee depreciation due to mitigating factors. Among those negatively impacted are govt-owned oil marketing companies, Ola, and UltraTech Cement. OMCs face a currency mismatch, with marketing revenues tied to the rupee and feedstock costs in US dollars, but partial hedges through US dollar-linked fuel sales and govt support mitigate risks.
