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Thursday, Oct 13, 2005


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Currency hedging: Infosys plans to take more options

Our Bureau

Bangalore , Oct. 12

INFOSYS Technologies plans to take more options as part of its currency hedging mechanism going forward. At the end of September quarter, Infosys had taken options for 9 million euros and pounds.

"After that we have taken options for 40 million," said Mr Mohandas Pai, CFO, Infosys adding, "options gives more flexibility compared to forward."

"In options you have a range, the top and bottom between which you can operate and that gives the flexibility, whereas in forward you have one point of value," Mr Pai said.

"We are thinking of taking more options going forward," Mr Pai said adding the company expected to balance its hedging between both options and forward cover. "Earlier options were not allowed, but now they are allowed," he said.

Announces relief: Infosys on Tuesday announced a Rs 2 crore relief to the victims of the earthquake that hit Jammu and Kashmir and Pakistan recently. The company is also providing a Rs 1 crore relief to the flood-hit victims of the North Karnataka, besides Rs 50 lakh for the rehabilitation of the victims of Hurricane Katrnia, Mr Nandan Nilekani, CEO, Infosys, said.

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