Just a few months ago the Indian It companies and policy makers were grappling with a record low exchange rate. Now rupee rate is rebound which causes unexpected fresh problems.
The currency has jumped to 5.6 percent so far this year. This will tamp down the inflation but it poses a challenge for the earnings of Indian exporters. For IT companies who are already contending with the H1B visa problem, it is yet another headache.
TCS India’s IT firm was taken aback by the rupee rebound says its Chief Executive officer Rajesh Gopinathan. This actually poses a threat to the companies that garner most of their earnings overseas.
The list of companies which experience this threat are Tata, Infosys, and Wipro which get more than 90 percent of the revenue from abroad. The drugmaker Sun Pharmaceuticals Industries Ltd and Lupin Ltd revenues above 70 percent.
Chandrababu Naidu's diehard fan is a Psycho Killer from Nellore Sources from Nellore have stated that Nellore's infamous psycho killer, Kukkalapalli Venkateswarlu who has been handed out death sentence for bludgeoning four people to death and critically injuring many persons, is a diehard fan of Chandrababu Naidu. Sources have stated that his Facebook pages have laudatory posts about Chandrababu and the TDP chief's photos adorned his bike.
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