UR Bhat, MD of Dalton Capital Advisors told CNBC-TV18, "I don't think the currency has irretrievably appreciated to whatever level it was yesterday. I think currency pressures would come back because inflation is near double digit as far as CPI is concerned. There is nothing to suggest that the current account deficit might contract dramatically and the pass-through effects of higher oil prices, depreciation of the rupee will certainly be felt on inflation. So there is nothing to suggest that things have dramatically changed."
"The rupee is likely to depreciate after sometime, so I think it is worthwhile being invested in IT because there would be further gains there. I think it is time to top up after yesterday's move," he adds. Also Read: iGATE to pay CEO Vemuri more than twice his Infosys packageDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
