Indian IT services stocks skid as rupee gains

Reuters Updated - May 03, 2019 at 11:40 AM.

Shares of Indian IT services companies fell as the rupee stood marginally higher versus the dollar.

The Nifty IT index was down 1.5 per cent; Tata Consultancy Services was the biggest drag, declining as much as 2.7 per cent.

Infosys lost 1.7 per cent, HCL Technologies 2.9 per cent and Larsen & Toubro Infotech 2.7 per cent, its worst since March 18.

The Nifty IT index is up 13.6 per cent this year as of the last close.

Published on May 3, 2019 05:46