IT stocks tumble after Accenture lowers guidance; HCL Tech, Wipro, TCS, Infosys fall up to 6%
The BSE IT index declined nearly 2% today, led by index heavyweights HCL Technologies, Wipro, Infosys, TCS, and Tech Mahindra.
The BSE IT index declined nearly 2% today, led by index heavyweights HCL Technologies, Wipro, Infosys, TCS, and Tech Mahindra.
Tata Sons was looking to offload 2.34 crore, or 0.65%, shares of TCS at a floor price of ₹4,001 per share through block deals.
IT industry is projected to see a mild revenue increase of 2% in the first three quarters of FY24, with growth remaining modest at 3-5% in FY25.
Extending gaining streak for the fourth straight session, TCS shares rose as much as 2.6% to scale a new peak of ₹4,229.30 on the BSE.
In order to become a developed economy by 2047, India needs to optimise tax generation to spend on all-round development, including infrastructure.
In the last four months, the m-cap of Tata Group increased by ₹5 lakh crore, driven by sustained rally in heavyweights such as TCS, Tata Motors, Tata Power, and Indian Hotels.
TCS project involves helping UK-based insurance major to boost its life business.
Shares of Tata Consultancy Services gain 4% in intraday trade today.
Tata Consultancy Services' consolidated revenue grows 4% year-on-year to ₹60,583 crore in Q3.
The year 2023 saw remarkable innovations in the AI space; India's big techs and emerging startups are catching up fast