IT majors’ shares fall following mixed results, weak outlook

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All major IT companies have reported mixed results over the past few days, with Infosys being the latest to announce its quarterly earnings.

Following this, Indian IT stocks came under fresh pressure on Friday, with companies such as Infosys, TCS, HCLTech, and Tech Mahindra trading lower, pulling the Nifty IT index down about 5.2% as of 2:40 pm.

TCS

Tata Consultancy Services, the country’s largest IT services firm, reported a 12% year-on-year (YoY) increase in net profit, at Rs 13,718 crore, in the March quarter. Revenues rose…



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IT majors’ shares fall following mixed results, weak outlook


All major IT companies have reported mixed results over the past few days, with Infosys being the latest to announce its quarterly earnings.

Following this, Indian IT stocks came under fresh pressure on Friday, with companies such as Infosys, TCS, HCLTech, and Tech Mahindra trading lower, pulling the Nifty IT index down about 5.2% as of 2:40 pm.

TCS

Tata Consultancy Services, the country’s largest IT services firm, reported a 12% year-on-year (YoY) increase in net profit, at Rs 13,718 crore, in the March quarter. Revenues rose…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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