Indian IT exposure to the US credit crunch
Via Paul Kedrosky: Tech Stocks’ Financial Services Exposure
The who’s who of the Indian IT industry show up in this list of companies with 20% or more of revenues derived from financial services. I would also guess (perhaps someone can confirm?) that this 20%+ revenue was quite profitable - on the way up. What would be nice is a more detailed analysis of this revenue exposure - eg. what % of it came from the go-go mortgage industry and so on.
Regardless, the market has given its opinion:
If you squint at this 6-month relative strength chart, you’ll see that the Blue line (trending up) is the Sensex and all the others (sucking wind ) are the IT stocks. 
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