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Infosys, TCS shares fall on valuation, rupee concerns

Source : REUTERS
Last Updated: Wed, Aug 21, 2013 05:09 hrs
Employees of Indian software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore

Shares of Indian IT majors Infosys and TCS fall on concerns about their valuations relative to the market and on fears that the rupee may regain some of its recent losses as it looks oversold at current levels.

The rupee made a record low of 64.13 to the dollar on Tuesday despite various measure by India's central bank and the government since mid-July.

Infosys Ltd is down 1.9 percent while Tata Consultancy Services Ltd falls 1.4 percent.

CNX IT Index falls 0.7 percent.


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