Rupee's downward trajectory augurs well for defensive stocks such as those from the Information technology and pharma pack. And over the course of 3 years, some 10 IT stocks have multiplied investors' wealth by as much as double and during this time the rupee has inched 9% lower from levels of 66 against the US dollar in November 2015 to 72 per dollar currently.
Leading the list is GSS Infotech which yielded return of 266% during the period. The scrip is then followed by Mastek with return of 181%, Polaris Consulting (137%), Genesys International Corp (135 %) and Infinte Computer Solutions (124 %) as per the data by ACE Equity.
Meanwhile, Nifty 50 index scaled higher by 35% while the Nifty IT also clocked gains to the tune of 32%.
Other IT players included in the list include Sasken Technologies (up 118 per cent), Saksoft (up 118 per cent), Sonata Software (117 per cent), NIIT Technologies (111 per cent) and Datamatics Global Services (102 per cent).
Interestingly, NIIT Technologies is the only stock from NIFTY IT pack that has given stellar returns during the period.