• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi, June 9 Tata Consultancy Services said on Monday that it has $1.5 billion worth of hedges, but did not comment on the impact of the rupee depreciation on the company.

“I cannot comment on the first quarter. The rupee has touched 42.89 today and with the growth of nine per cent and inflation and oil numbers, which way it is going to go is anyone’s guess. For us, the rupee depreciation is good for exports but you have to run the business on the business fundamentals….Today, we are hedged for $1.5 billion,” Mr S. Ramadorai, CEO and MD of TCS, said on the sidelines of a conference.

He said it is “very difficult” to predict the rupee movement as over the last one month, the currency had taken a different turn.

“We are living in very unpredictable times where the rupee was headed one way but suddenly in the last 30-35 days, it is going the other way,” he said.

Asked whether the company would have any impact on account of hedging losses, he said, “It is too early to say.”

On the time period when the company aims to grow to $10-billion in revenue from the current about $6 billion, he said, “We do not have a time limit.”

More Stories on : Software | Forex | Tata Consultancy Services Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Indian designers exploit graphical edge in instrumentation

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line