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Infosys, TCS shares fall on valuation, rupee concerns

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



New Delhi: Shares of 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

Reuters

From Zee News

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