I.T Stocks Outlook for the week – 11 to 15.09.2017

I.T Stocks Outlook for the week – 11 to 15.09.2017 

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I.T Stocks Outlook for the week – 11 to 15.09.2017 )

Seen mixed; Wipro may rise further Stocks of information technology companies are seen trading on a mixed note next week. IT index, on other hand, is seen consolidating at current levels. Yesterday, IT index was the major loser, weighed down by appreciation in the rupee. The rupee has strengthened for three straight days this week. It has appreciated 0.4% from the last week. IT companies export majority of their services and earn nearly 60% of their revenues in US dollar, hence, an appreciation in the rupee would weigh on their performance. Wipro Ltd's stock is seen retaining its positive move because of the company's buyback proposal. Wipro has set Sep 15 as the record date for determining the eligibility of shareholders to participate in the buyback.

Source : Cogencis Information Services Ltd.