Wednesday, May 21, 2003

Hi, Whatever VisBabu means by "hybrid" group...no guesses but eager to hear. and whatever ramgopal meant by, "but kicha is in infy, blr.. but what to do.. cant figure OUT and IN...." no guesses again... but want to know what it meant or tried to mean... some breaking biz news: rupee ended the day yesterday at Rs.46.9 / dollar. It has strengthened considerably. It was 49.7 in June '02. And that is not good news for the Indian IT firms. iFlex CFO says he expected rupee to depreciate by 3-4% annually as it was happening all this time. But contrary to all expectations rupee is becoming stronger by the day and expected to rise further... Either Indian companies move business out of US slowly and steadily... or perish. Nobody wants the latter to happen and the former is going to be a big struggle.... so much for India's IT prowess...

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