I.T Stocks Outlook For The Week - 25 to 29.09.2017
I.T Stocks Outlook For The Week - 25 to 29.09.2017
( www.rupeedesk.in )
Stocks of information technology companies are likely to rise next week as the rupee seen depreciating further. During this week, the Indian rupee fell nearly 1.1%, depreciating from 64.07 to 64.79 a dollar. The depreciation in the rupee is likely to continue over the next few sessions, and
may fall to a low as 65.85 a dollar. Since IT companies earn nearly 60% of their revenues in US dollar, depreciation in the rupee boost their earnings. Infosys Ltd, which signed a 7-year pact to
upgrade the technology, used by French shipping company CMA CGM Group this week.
Source : Cogencis Information Services Ltd.
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I.T Stocks Outlook For The Week - 25 to 29.09.2017
( www.rupeedesk.in )
Stocks of information technology companies are likely to rise next week as the rupee seen depreciating further. During this week, the Indian rupee fell nearly 1.1%, depreciating from 64.07 to 64.79 a dollar. The depreciation in the rupee is likely to continue over the next few sessions, and
may fall to a low as 65.85 a dollar. Since IT companies earn nearly 60% of their revenues in US dollar, depreciation in the rupee boost their earnings. Infosys Ltd, which signed a 7-year pact to
upgrade the technology, used by French shipping company CMA CGM Group this week.
Source : Cogencis Information Services Ltd.
