IT stocks may remain under pressure: Here is why
Cross-currency headwinds and widespread personnel churn that results in salary increases might possibly exacerbate the difficulties, analysts predicted.
According to analysts, pressure on information technology (IT) stocks is anticipated to persist in the near future due to factors including the unstable financial markets and the worsening economic conditions in important global economies. The largest software exporter in the nation, TCS, began the most recent results cycle on Friday with a 5.2% increase in net profit for the June quarter. However, IT shares have been falling, with the BSE Information Technology index falling about 24% so far in 2022.