March 15, 2017 / 4:55 AM / 5 months ago

BUZZ-Indian IT stocks fall as rupee hits 16-mth high

** Shares of Indian IT companies such as Tata Consultancy Services Ltd and Infosys Ltd fall as much as and 1.83 pct and 1.26 pct, respectively

** The Indian rupee hits 65.525 per dollar, its strongest level since since Nov. 5, 2015

** A stronger rupee could hit returns from U.S. market, the biggest source of revenue for IT companies

** The Nifty IT index falls as much as 1.19 pct in the first hour of trade

** The IT index has gained 4.62 pct this year as of Tuesday's close

arnab.paul@thomsonreuters.com@reuters.net

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