Rediffmail Money rediffGURUS BusinessEmail

TCS hedges $1.5 bn to tackle rupee fluctuations

June 09, 2008 19:31 IST
Source:PTI
Tata Consultancy Services on Monday said it has hedged funds of about $1.5 billion to create a safeguard against the fluctuations in the rupee movement.

TCS CEO S Ramadorai said, "We have hedged for about $1.5 billion. I believe one has to run business on fundamentals and not on currency fluctuations".

He also said it is very difficult to predict the rupee movement as in the last one-and-a-half months, rupee has taken a different turn than what it was six-to-seven months ago.

Asked about the time period when the company aims to grow to $10-billion revenue from the current $6 billion, he said, "We do not have a time limit".

Source: PTI
© Copyright 2026 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

MORE FROM REDIFF

WEB STORIES

10 Of Bombay's Oldest Restaurants

Asus TUF Gaming A14 Launched In India

Haier HQLED P7 Pro Series: Get The Deets!

VIDEOS

NEWS BUSINESS MOVIES CRICKET SPORTS GET AHEAD REDIFF-TV REDIFF ASTRO MOBILE RECHARGE BILL PAYMENTS