I.T Stocks Outlook For The Week - 19 To 22.11.2018
Stocks of information technology companies are expected to be subdued next week due to likely strength in the rupee against the dollar The Nifty IT index has fallen over 3% in November so far as the rupee appreciated against the US dollar and due to concerns that slowing corporate earnings
in the US may hit client spending on information technology services. An appreciation in the Indian currency against the US dollar weighs on the Indian IT companies, as they earn a major share of their revenue in dollar terms.
Source : Cogencis Information Services Ltd.
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Stocks of information technology companies are expected to be subdued next week due to likely strength in the rupee against the dollar The Nifty IT index has fallen over 3% in November so far as the rupee appreciated against the US dollar and due to concerns that slowing corporate earnings
in the US may hit client spending on information technology services. An appreciation in the Indian currency against the US dollar weighs on the Indian IT companies, as they earn a major share of their revenue in dollar terms.
Source : Cogencis Information Services Ltd.
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