Rupee knocks India Inc
India Inc took some severe blows from deprecating rupee, during last quarter, as earnings disappointed the street. It's the treasury managers, who could be blame for failing to predict sharp rupee decline of 7 per cent against dollar. Technology, automobiles and pharmaceuticals were among the worst hit sectors. Most of the tech companies had over-hedged themselves and thus had to pay a big price. HCL 's forex loss is of Rs 299 crore and TCS booked loss worth Rs 75 crore.
