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business/news//CNBC TV18
A weaker currency is generally positive for Indian IT companies.
The Indian Rupee fell to a record low of 96.3 against the US Dollar on May 18.
KEY POINTS
A 1% rupee depreciation can boost Indian IT company margins by 20 to 30 basis points.
Coforge and Tech Mahindra shares rose 4% to 4.5% on Monday's currency movement.
The Nifty IT index emerged as the day's top sectoral gainer, up over 2%.