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IT stocks fall on rupee worries, valuations
September 17, 2012 / 11:38 AM / 5 years ago

IT stocks fall on rupee worries, valuations

A broker reacts while trading at a stock brokerage firm in Mumbai February 7, 2008. REUTERS/Arko Datta/Files

Reuters Market Eye - Shares in Indian technology companies drop after the rupee rises to four-month highs, raising worries about the impact on overseas profits.

Valuations also play a role: Tata Consultancy Services (TCS.NS) drops 5 percent after hitting a record high of 1,439.80 rupees on Friday, when the shares had initially gained after the Fed’s new asset purchase programme.

Infosys (INFY.NS) shares fall 2.6 percent after gaining 3 percent on Friday.

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