Bajaj Auto falls 1.4 per cent and UPL drops 1.9 per cent in early trade as Argentine peso plummets 26.5 per cent after controls were lifted.
The country's new government floated the currency as part of a slew of free-market reforms aimed at revitalizing the stagnant economy. Latin America contributes nearly 20 per cent of Bajaj Auto's exports, say analysts.
Argentina contributed Rs 3.3 billion in UPL's FY15 revenues, according to the company's annual report.
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