♠ Posted by Unknown at 02:21
The fall in rupee will result in a windfall for the Indian IT firms with a majority of them expected to post better-than-expected first quarter results-that too at a time when companies across sectors are bracing up for a negative impact.
However, the euphoria could be shortlived when new contracts will be signed under the existing dollar-rupee exchange rate.
"In the short-term, the slide in rupee will be good for IT companies as it will bring in additional revenues to them, and the first quarter results would be slightly better than their guidance. However, this might not help in a rally of stock prices of these companies," Ankita Somani, sector analyst, Angel Broking, said. "The revenues, we expect, will be slightly better than the guidance…," Somani added. Read More
0 comments:
Post a Comment