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IT stocks slip as rupee gains strength on RBI measures

By Religare

The party of the IT stocks came to an end today as the rupee witnessed smart recovery against the US dollar on back of fresh measures announced by new RBI governor to check sliding growth in the economy, infusing fresh lease of life into the domestic equity and currency market.

At around 11:10 hours, IT stocks like TCS (down 3.1%), Wipro (down 2.02%), Infosys (down 2.59%), Tech Mahindra (down 1.05%), Mphasis (down 0.68%), HCL Tech (down 1.88%) were among the prominent losers on Bombay Stock Exchange (BSE).


Helped by RBI measures, the Indian rupee touched a high of 65.52 to the dollar against the Wednesday's close of 67.09.

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