Bangalore: One week before, Indian Rupee value equivalent to dollar has gone very low. But, some export companies has got benefited out of it. Especially the Indian IT software export companies.
These companies earn majority of their revenues in dollar. So, past few months these companies got benefited of Indian Rupee downfall. Dollars from abroad are converted to Indian Rupees. These companies earned 15% higher than what they earn in normal. Also, more number of people who bought shares in manufacturing sectors dropped it and started to buy shares of software companies.
As India Rupee continued to go down and down, income of these companies have raised. But, in the last 6 days Indian rupee value has slowly coming up and reached the level of 62.9. So now there is a huge risk in the profits of these companies and investors who bought more shares.
Especially Infosys, TCS, Wipro, HCL companies are expected to face fall in the profits. In these companies income can be decreased to several hundred crores. At the same time, the economic situation of the United States is stable and good. So it will help for these companies in the long run and this will also helpful to get new projects.