Seven IT stocks rose by 0.76% to 1.81% at 11:57 IST on BSE on weak rupee
Oracle Financial Services Software (up 1.81%), Wipro (up 1.55%), HCL Technologies (up 1.43%), Tech Mahindra (up 0.98%), TCS (up 0.49%), Infosys (up 0.11%) and MindTree (up 0.76%) edged higher.
The S&P BSE IT index was up 0.67% at 11,175.06. It underperformed the S&P BSE Sensex was up 0.81% at 25,915.33.
A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 66.4575, compared with its close of 66.365 during the previous trading session.
Meanwhile, Tech Mahindra announced after market hours yesterday, 15 September 2015, the release of a solution for the communications industry under the name Telco360. This proven solution can provide faster and more predictable deployments for partners, empowering them to connect with their customers in entirely new ways, Tech Mahindra said.
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