IT sector stocks too gained as rupee fell to its 20 week low on Tuesday. IT sector firms earn a large part of their revenue in dollars. If rupee falls, every dollar earned through exports means more revenue is added to the bottomline. 

As the rupee was trading near its 20 week low level of 67.71 against the dollar, the Nifty IT index rose 2.50 per cent in afternoon trade.

IT services revenues, which account for a dominant chunk of Wipro's business, grew 2.6 per cent sequentially to about USD 1,931 million for the June quarter, meeting the guidance of USD 1,901-1,939 million.

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In an interview to Business Today, Ashok Soota reflects on his tough decisions, leadership style, the separation of powers between the executive chairman and the CEO.

Mindtree had posted a net profit of Rs 98.2 crore in the year-ago period, it said in a statement.

Behind the dense fog of political and bureaucratic obfuscation is a start-up working to create the tech backbone for GST. The challenge is to meet the April 2016 deadline.

Mindtree also announced the acquisition of US-based insurance solutions provider Discoverture Solutions for $15 million (over Rs 92 crore).

Although the economy is showing signs of improvement, the full potential of India Inc will be visible only in the next 12-18 months.

Consolidated revenue grew by 34.5 per cent to Rs 823.7 crore in the January-March quarter of 2013-14 fiscal from Rs 612.4 crore in the same quarter of 2012-13 fiscal, it added.

In the September quarter, most large cap as well as mid-tier IT companies reported broad-based growth, their numbers coming ahead of market expectations.

Experts say one should buy gradually through a systematic investment plan, as IT companies provide a hedge against falling rupee and poor performance of the domestic economy

It is no secret that the big four - Infosys, TCS, Wipro and HCL Tech - of the Indian IT sector are facing margin pressures and moderation in revenue growth. Analysts look at mid-level IT firms that are available at lower valuations.

Infosys, a company that grew from a seven man start-up in 1981 to the 155,629 person, $7 billion enterprise it is today, has time and again been called India's most admired and respected company. But its halo has dimmed.

The founder of the Cafe Coffee Day chain was one of MindTree's first venture capitalists, buying an initial 6.6 per cent stake in the company for Rs 41 a share in 1999. He now owns 22 per cent stake in MindTree through his companies and personal holdings.

V.G. Siddhartha seldom airs his views about businesses he is involved in. But in a candid conversation with BT, the Cafe Coffee Day founder discusses the rationale of his investments in the Bangalore-based mid-tier IT company MindTree, in which he is also the largest shareholder.

The 15 per cent Sensex rally in the first two months of 2012 seems to have stoked the embers back to life when hope was dying at the end of 2011 after a year of slide in stock indices.

The incubating arm of IIT-Madras is a clear favourite among wannabe entrepreneurs despite the fact that the firms it has hand-held so far have not made it big.

Indian IT firms have largely given products the miss. But now, a host of start-ups are aggressively launching innovative products that are finding a ready market. Can an Indian company one day launch an MS Word? Suman Layak finds out.

The top three IT companies are still among the 10 most valuable companies in India, but D-Street’s appetite for IT stocks in general seems to be on the wane.