The depreciation in the rupee has given a leg up to information technology (IT) and pharma funds that have been under the weather for much of last year. The fall in the currency will add to the margins of export-oriented sectors such as IT and pharma, as the realisation in rupee terms will increase, say experts.
IT and pharma funds have returned 4.4 per cent and 1.77 per cent in the past month, respectively. “Growth has improved for the IT sector in the past 2-3 quarters and valuations look reasonable. The rupee deprecation will further help ease margin pressure,” said ...
