
Global macro headwinds may moderate growth for Indian IT firms: Report
Indian IT firms generate around 60-65% of its revenues from the US market and 20-25% from the European market.
Indian IT firms generate around 60-65% of its revenues from the US market and 20-25% from the European market.
Revenue of the IT services firm rose 20% year-on-year to ₹13,129 crore.
Shares of TCS, Infosys, Wipro, Tech Mahindra, HCL Tech, and MindTree dropped up to 4% in opening trade amid fear of aggressive rate hikes by the U.S. Federal Reserve.
This is the first time in the world that Street View data is being collected by local partners, says Google.
The Sensex and Nifty are poised to open on a muted note on Tuesday, tracking mixed cues from global peers and weak trends on SGX Nifty.
Revenue of the IT services company jumped 24.6% year-on-year to ₹12,708 crore.
IT heavyweights TCS, Infosys, and Wipro are expected to post constant currency revenue growth in the range of 2.5-4.5% on a quarter-on-quarter basis
The BSE Sensex declined as much as 1,290 points to hit a low of 57,047 while the NSE Nifty fell as much as 347 points to 17,129.
The Sensex and Nifty50 ended with more than 1% gain, led by index heavyweights such as Reliance Industries, Tech Mahindra, Bajaj Finserv, ITC, TCS, and Infosys.
The top five gainers on the Sensex pack were Sun Pharma Industries, Tata Consultancy Services, NTPC, Wipro and Tech Mahindra.