Weak rupee to boost IT cos’ topline

The topline of the country’s top four software exporters —TCS, Infosys, Wipro, Satyam —could exceed projections by between 3.3% and 6.3% if the trend of depreciation in the value of the rupee against the US continues, a report by Angel Broking says.

The rupee has depreciated by 6.76% against the dollar since the beginning of this fiscal. It closed at 42.54/55 on the interbank forex market on Friday.

The report, authored by Harit Shah, said India’s biggest IT services exporter, TCS, would top its revenue guidance for the fiscal by 3.8% at a conversion rate of Rs 41 and by 6.3% at Rs 42. Satyam’s revenues are seen beating guidance by 3.6% at an exchange rate of Rs 41 and by 6.1% at Rs 42.

So is a sort of revival for the Indian IT giants.....