Mumbai: High-risk takers eyeing a contra play for their equity portfolio can consider betting on the Nifty IT index fund. With the IT index underperforming the broader markets in recent times, it offers an attractive entry point for investors, said fund managers. “The sector has been facing several headwinds such as AI impacting the business…
Shares of information technology (IT) companies such as Infosys, TCS, HCL Tech, and Persistent Systems rose by up to 4%, driving the Nifty IT index up by 3%, as an anti-AI trade unfolds in global markets, indicating concerns about a bubble forming in AI stocks. In the afternoon, Infosys shares surged as much as 4%…
Indian stocks opened lower on Friday, halting a two-day advance on the Sensex and Nifty as weakness in IT shares weighed on sentiment. The retreat came despite continued optimism around corporate earnings recovery and steady foreign fund inflows. The S&P BSE Sensex fell 111.70 points, or 0.13%, to 83,355.96 in early trade, while the NSE…
ET Intelligence Group: India’s top tier software exporters continued to report a sustained momentum in deal wins including new as well as those up for renewals for the September quarter amid a challenging business environment – rising client requirements to incorporate AI (artificial intelligence) capabilities in IT deliverables and uncertainties pertaining to the impact of…
Mid-tier IT services company LTIMindtree on Thursday reported a 12% YoY growth in its consolidated Q2 net profit at Rs 1,401 crore versus Rs 1,251 crore in the year-ago period. The profit after tax (PAT) is attributable to the company’s shareholders. The company’s revenue from operations in the quarter under review stood at Rs 10,394…
Shares of Wipro gained momentum in Friday’s morning trade, emerging as one of the top performers on the Nifty 50 index. As of 11:47 am, the stock was trading 2.55 per cent higher at Rs 267.25, extending gains following its better-than-expected Q1 results. Other key gainers on the benchmark index included Tata Steel, up 1.31 per cent,…