
Why IT Majors Fret Over FY24?
As US recession looms large, Indian IT services companies are bracing for a hard landing.
As US recession looms large, Indian IT services companies are bracing for a hard landing.
Citi has downgraded Tech Mahindra to “sell” from “neutral” and cut the target price to ₹955 from ₹1,100.
Mohit Joshi's departure marks the exit of the only President left at Infosys after Ravikumar last year.
Tech Mahindra share price declined 3.8% to hit an intraday low of ₹996.40 on the BSE, while it shed 6% in a week.
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.