We have got a historic mandate yesterday, a very decisive strong mandate, I'm extremely

positive that things will pick up in India much sooner with these results," said N Chandrasekaran,
CEO and managing director of TCS.
On the flip side, days of large upsides in margins seem to be limited. Most IT companies, which
reported rising profitability through the last fiscal, will be under pressure as the rupee gains
strength. The currency hit an 11-month high of 58.63 per dollar on Friday, when results indicated
a landslide victory for the BJP.
The rupee is expected to rise on the back of increased foreign inflows into various asset classes
(stocks, bonds). Already, foreign investors have pumped in over Rs. 1 lakh crore in the domestic
securities market since September 2013, when Mr Modi was announced as the BJP's prime
ministerial candidate. Fast-tracking of reforms will also attract long-term FDI investments and
push the rupee up.
Like many other exporters, IT firms earn a major portion of revenues in dollars and a stronger
rupee will hit margins.