TCS for hedging on Rupee
Tata Consultancy Services (TCS), India's largest IT company, is looking to hedge against the rising rupee. HT reports.Updated: Nov 13, 2011 21:56 IST
Tata Consultancy Services (TCS), India's largest IT company, is looking to hedge against the rising rupee.
"There is going to be volatility because of the way global events that are unfolding. We have to prepare for the operations within a band of a prudent conservative hedging strategy," S Ramadorai, vice-chairman, TCS told HT.
Most Indian IT firms, including TCS have seen margins affected as the rupee touched the Rs 50 mark against the US dollar. There are concerns about growth due to the economic troubles in the US and Europe, who are a major contributor to Indian IT firms' revenues.
TCS is looking to spread out in the US market, and is also venturing into high end services like consultancy. "Business momentum will be always good (in the US) but there are certain markets of the world that would be more challenging," Ramadorai said.
First Published: Nov 13, 2011 21:54 IST