IT stocks gain ground as rupee hits one week low

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Shares in IT Companies gained ground today as the rupee hit a one week low and threatened to break the 64 levels.

The rupee was last trading at 63.73 on sustained year end dollar demand. IT shares saw a smart rally following the drop in the rupee. Among the stocks that gained in trade were Infosys, TCS and Tech Mahindra.

IT stocks gain ground as rupee hits one week low
Infosys: Quotes, News
BSE 1009.05BSE Quote17.2 (1.70%)
NSE 1008.85NSE Quote18.7 (1.85%)
Tata Consultancy Services: Quotes, News
BSE 2481.65BSE Quote72.1 (2.91%)
NSE 2481.80NSE Quote70.3 (2.83%)

Mphasis, TCS, Wipro and Infosys were all up anywhere between 0.5 per cent to 2 per cent.

Stocks from the sector have been rallying consistently in the last few days as the rupee has now fallen comfortably past the 63 levels.

A few weeks back the stock of TCS fell after it warned of a difficult quarter for the quarter ending Dec 31, 2014.

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