Tata Consultancy, Infosys Decline as Indian Rupee Strengthens
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Tata Consultancy Services Ltd., India’s largest software exporter, led the nation’s technology companies lower on concern the rupee’s gain to a four-month record will reduce the value of their earnings.
Tata Consultancy fell 5 percent to 1,342.10 rupees, the most since May 8, at the close in Mumbai trading. Infosys Ltd. declined 2.6 percent to 2,564.50 rupees, the most since July 16, and shares of Wipro Ltd. fell 1.7 percent to 384.80 rupees. The benchmark Sensitive Index climbed 0.4 percent.