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Coronavirus fear: Biz disruption will outweigh currency gain, say analysts

The rupee declined 0.3 per cent on Friday to hit an all-time low of Rs 75.20 against the dollar

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The fall in core business of IT firms is likely to bring down the dollar revenue of these companies, which will nullify the impact of rupee fall, said Madhu Babu, analyst at Centrum Broking | File photo

Sai Ishwar Mumbai
As Indian rupee slides to a record low against the US dollar, this is unlikely to cheer the Indian software services providers owing to the novel coronavirus (COVID-19) outbreak.

Analysts tracking the sector said COVID-19 was not only expected to disrupt the core businesses of IT services firms but would also defer the new deal signings.

“There are a lot of worrying factors despite the currency losing value. Their workflow and demand are facing uncertainty due to COVID-19,” said Harit Shah, senior analyst at IndiaNivesh.

The fall in core business of IT firms is likely to bring down the dollar revenue of these

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