The rupee can indeed play spoilsport. TCS, for instance, suffered a Rs 113-crore forex loss during the reporting quarter. It has a total hedge of $210 million (of this, $75 million are old hedges booked at Rs 40.50 and the new $135 million is at the rate of Rs 47). Wipro, on the other hand, has a total hedging of $1 billion, and booked hedging gains of Rs 24 crore. Infosys takes a short-term view on hedges. It increased its hedges to $699 million in Q2, against $598 million in the June quarter.

Finally, on the hiring front, TCS and Infosys will continue to hire and honour their campus offers. Infosys has increased its total hiring by 2,000. In the case of Wipro, though, the number of hires have declined. The company’s total headcount declined by 630 for the quarter. But in case of TCS, it had gross addition of 5,530 and net addition of 320. Besides, in October-December quarter, the company will add 8,000 freshers. Most of the additional employees will be experienced hands to cater to new work which is being viewed as a positive sign by analysts.

Source: Business Standard