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livemint.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
livemint.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
IT stocks fall from peaks: What's behind the decline?
Eight of the top ten IT stocks have entered bear market territory, including Infosys, HCLTech, and Tech Mahindra.
LTIMindtree experienced the most significant drop from peak levels, falling 33%, while Wipro, though performing relatively better, still saw a 16% decline.
Free fall
The BSE's IT index has fallen as much as 19% since January. As of Thursday morning, the top IT stocks were as follows:
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TCS: The K Krithivasan-led company's stock was at Rs 3,496.60, down 15% since January.
Infosys: The IT giant was trading at Rs 1,576, down 16.26% in the year to date.
Tech Mahindra: The company was at Rs 1,434.10, down 16% since January.
HCLTech: Down nearly 20% since the start of the year, HCLTech was trading at Rs 1,535.50.
LTIMindtree: The stock has fallen 21% since January, and was trading at Rs 4,479 in the morning hours.
What's behind the crash?
Concerns about a US recession: Indian IT companies heavily depend on revenue from US-based clients. US President Donald Trump has now placed 20% duties on all imports from China, and threatened to impose 25% tariffs on all imports from Canada and Mexico, the United States' two largest trading partners. Trump has also warned that the US will place reciprocal tariffs on all countries that have tariffs on US exports, including European nations, India, and Japan.
This has led to uncertainty over the economy. JP Morgan has pegged the probability of a US recession this year at approximately 40%.
Nasdaq falls: Due to fears of a recession, US stock indices
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Europe has tech stars. They’re far behind the US. livemint.com / 1 year ago
Auto, pharma stocks extend rout as Trump’s tariff plan spooks investors economictimes.indiatimes.com / 1 year ago
Canadian and Mexican stocks are beating the S&P 500. Why tariffs aren’t sinking them. livemint.com / 1 year ago
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