Depreciating more than 11.5% in the current year, Indian rupee today hit its historic low of 71.37 against USD.
The rupee devaluation gives a positive trigger to companies having majority of their revenue from exports like IT Technology and Pharma.
Among IT stocks that should be on your radar are TCS, Infosys, HCL Technologies, Mindtree, Tech Mahindra, and HCL Technologies. Along with depreciating rupee other drivers that contribute a positive momentum to these stocks are growth in US economy, expanding financial services sectors and strong management outlook for FY19.
Another sector that can be benefited from the fall in rupee is pharma companies which have exposure to the US, including Dr Reddy’s Labs, Sun Pharma, Cadila Healthcare, Lupin etc.