IT sector may take a beating on concerns of rupee riding on eight year highs against the dollar and possible slow down in US Economy; investors have fixed up hopes on the January-March earnings and 2007-08 guidance from Infosys to revitalize interest. But, they could be in for some dissatisfaction, as current brokerage research reports suggest a rather grave outlook for the sector in FY’08.

Infosys Technologies, will feature earnings on April 13, expected to give a direction of earnings growth in  a much more traditionalist outlook compare to that of 26-28% issued by it for FY’07.

Worries center broadly on two issues. First, the dollar has been taking a beating. Compared to the rupee, as rupee has appreciated significantly during the last week of March, Infosys forward guidance is very likely to be of restraint.
Shares of software exporters have shed gains in recent times after the rupee rose close to an 8-year high against the dollar. Indications of slowdown in the US, where these companies own a larger chunk of their revenues, aggravated concerns over a slowdown in their revenue growth.

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