Here's a summary of the situation as of today in a numbered list: 1.Major financial institutions in US are going bankrupt or being sold at bargain basement prices.This is bound to impact Indian IT companies in two ways: (a) Companies like TCS, Wipro, Infy and Satyam would lose business worth hundreds of crores (b) Companies like NIIT and Patni (which are partly owned by the likes of Merill Lynch and Lehman Bros) may see erosion of stakeholder value. 2. The US Dollar is getting stronger against the Rupee.Yesterday it was at Rs.46.Almost all the Indian IT majors have hedged their positions around Rs.42-43 per USD. So, a weak rupee will not have any positive impact on their revenues. 3.Due to increase in costs, and reduced business from US, many IT majors are contemplating or actually doing layoffs. So far, Satyam and Wipro have bitten the bullet.We can safely expect that TCS and Infy will follow suit, albeit the spin they may give could be different. So, the writing on the wall for I
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