The Nifty IT index plummeted by 2.90% to 35,808 points during the session, marking a significant decline to reach a 9-week low. This fall pushed the index to correct 7.13% from its 2024 high of 38559 points.
2 min read19 Mar 2024Infosys, the second-largest IT services firm, projected revenue growth guidance of 4-7% for FY24
5 min read30 Apr 2023The industry’s woes are chiefly driven by a slowdown in business from the BFSI sector
3 min read9 Apr 2023Infosys helped the BSE IT Index settle at an all-time high of 17,194.49, up 4.14%Infosys closed 9.6% higher to ₹910.90 on the BSE, the biggest gain since 24 March
2 min read17 Jul 2020Mid-cap IT stocks have dropped 28-42%, compared to 23-25% fall in TCS and Infosys sharesHigher client concentration and greater exposure to discretionary spends put them at risk
2 min read3 Apr 2020Performance over the past year shows IT companies are withstanding the market changes betterOutperformance of the NSE IT index waned since September, partly because the govt’s tax cuts did not benefit IT firms
2 min read30 Dec 2019IT stocks have underperformed ever since the broader markets started rallying in FebruaryRising headwinds to global economy and its impact on IT services demand need to be factored in
2 min read29 Mar 2019Revenues in constant currency terms increased 5.6% on a sequential basisHCL Tech reported a 30 basis point contraction in profit margins to 19.6%
2 min read30 Jan 2019IT stocks gained 24.93% compared to Sensex's 5.91% risebest in 5 years
2 min read7 Jan 2019An analysis of financials of end clients of IT firms by Nomura Securities indicates a status quo demand environment, rather than any suggestion of a ramp-up in IT spends
1 min read5 Dec 2018The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared