Wipro's Q3FY25 net profit rose 24.5 per cent Y-o-Y to Rs 3,350 crore, with a 4.5 per cent Q-o-Q increase. Revenue was Rs 22,320 crore, up 0.5 per cent Y-o-Y and flat Q-o-Q
Technical charts show that HCL Technologies, TCS, Infosys and Tech Mahindra shares could fall up to 8% from here on; while, Wipro can potentially rally by another 11%. Check key levels here
According to Motilal Oswal Financial Services, Infosys and LTIMindtree, both companies with a high discretionary tilt, have provided a more cautious view on discretionary-spend recovery
Wipro's Q3 performance is expected to reflect seasonal furlough impacts, client-specific challenges, and currency headwinds
HCLTech declared a dividend of Rs 18 per share, including a special Rs 6 per share dividend to commemorate 25 years since its public listing, marking its 88th consecutive quarter of dividend payouts
The Nifty IT Index is exhibiting a clear bearish trend in the near term, prompting traders to adopt a cautious stance
IT-bellwether TCS's headline revenue numbers remained flat, but the deal-win total contract value (TCV) was encouraging, signaling potential momentum pick-up ahead
Stock Market Today: The Nifty IT Index today is exhibiting a bearish trend in the near-term with charts signaling further downside potential
The Nifty IT index outperformed the Nifty 50 and the broader index in the second-half of 2024 with a gain of nearly 20%. Key levels to track on IT shares ahead of Q3 results.
Persistent Systems led the decline, plunging 4.78 per cent to Rs 6,320.50. Mphasis also fell sharply, down 3.38 per cent at Rs 2,836. Coforge dropped 2.77 per cent to Rs 9,546
Stock Market Today: The Nifty IT index, eventually, settled 2.6 per cent lower on the National Stock Exchange (NSE) at 44,954 level. By comparison, the Nifty50 index ended 1.5 per cent down at 23,587
Stock Market Today: The Nifty IT Index is facing mixed sentiments post the recent Accenture earnings, which might uplift IT stocks temporarily. However, a closer look at the charts suggests caution
The key benchmarks - Sensex, Nifty faced another bear attack on Thursday, with the BSE Sensex crashing 1,162 points or 1.44 per cent to its intraday low of 79020
For the Indian IT services sector, which derives over 60 per cent of its revenues from the US, the Fed's cautious stance has mixed implications
At 10:16 AM, with a market cap of Rs 1.01 trillion, Persistent Systems was trading 2 per cent higher at Rs 6,473.05 on the BSE, exchange data showed
Stock Market Today: The best trading strategy at this juncture is to book profits on the rise in Nifty IT index and wait for the index to retrace towards its support levels
By 11:11 AM, the Nifty IT index had come off its peak but was still trading 0.82 per cent higher at 45,199.40. In comparison, the broader Nifty50 index was up a modest 0.11 per cent at 24,646.30
The weakness and profit booking in the IT stocks came after two consecutive days of the Nifty IT index hitting lifetime highs and making a new summit at 44,330.60 level on Wednesday
The Nifty IT index hit an all time high on Tuesday, reaching 44,244.60 level, up 1.43 per cent intraday. Meanwhile in the last 30 days, the index has surged 5.24 per cent
At 02:31 pm; Nifty IT index, the top loser among sectoral indices, was down 2.3 per cent, as compared to 0.43 per cent decline in the Nifty 50.