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BW Businessworld

IT Stocks Not Reflecting Weak Rupee: C.Suisse

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IT stocks have yet to benefit from an 8 per cent fall in the rupee against the U.S. dollar over the past few months, Credit Suisse says.

Credit Suisse sees a "reasonably strong" correlation between USD/INR moves versus IT stock direction over the next 30 days.

Investment bank maintains 'overweight' call in the sector, with top picks Tata Consultancy Services and HCL Technologies among larger companies, and MindTree and Hexaware among the smaller names.

(Reuters)