India’s IT heavyweights dragged down the stock market today, tracking a 2% drop in Wall Street, on concerns that AI is set to disrupt their business model. The National Stock Exchange building in Bandra Kurla Complex, Mumbai. (Livemint) The 30-share BSE Sensex fell as much as 1.07%, or 903.17 points, to 82,771.75 points while the […]
Infosys’ American Depositary Receipts (ADRs) slumped more than 7% on Thursday, touching an intraday low of $14.59 in early trade, while Wipro’s ADRs fell 5.4% to $2.26. The sharp decline follows a steep sell-off in IT stocks on Indian exchanges, with weakness spilling over to Wall Street. The broader US tech rout added to the […]
Shares of Indian software exporters slid more than 4% on Thursday, extending losses for the week, as persistent fears of AI-led disruption and fading hopes of a near-term rate cut by the U.S. Federal Reserve weighed on sentiment. The rise of Anthropic’s AI tools threatens to upend the labour-intensive business model of Indian IT industry. […]
India’s stock market rose today, supported by a surge in IT stocks after Infosys Ltd. raised its full-year revenue growth outlook. The Bombay Stock Exchange (BSE) in Mumbai (Reuters) At 10:20 am, the Nifty 50 rose 0.64% to 25,830.95, while the 30-share Sensex added 0.73% to 83,995.35. Fourteen of the 16 major sectors logged gains. […]
The window for tendering shares in the ₹18,000-crore Infosys buyback opens tomorrow, is an opportunity for retail investors to make a quick buck from the largest buyback in India’s stock market history. That’s because they have a significant advantage in the acceptance process. Only those shareholders who held Infosys shares in their demat account as […]
The NSE Nifty 50 reversed losses to trade at a one-year high today, as gains in Reliance Industries Ltd. ahead of its quarterly results offset losses in Infosys and Wipro share prices. The National Stock Exchange building in Bandra Kurla Complex, Mumbai. (Livemint) The NSE Nifty 50 rose as much as 0.42% to 25,693.3 points—the […]