Page 40 - Lt Technology Services News Today

JP Morgan has reiterated its negative stance on Indian information technology (IT) services and downgraded the sector to underweight (neutral earlier post Q4-FY23 numbers), as it believes the overall demand environment for the sector still remains weak. The research firm expects most companies in the sector to disappoint while announcing their first quarter numbers for the current fiscal (Q1-FY24). Among stocks, it has placed Infosys, TCS, MphasiS in its negative catalyst watch.

L&T Technology Services Limited announced an extension of its relationship with PTC Inc. to engineer future ready solutions for the aerospace, defense and transportation sectors. The parties will leverage PTCs Windchill®? product lifecycle...

(This story has not been edited by THE WEEK and is auto-generated from a PTI

DSP Mutual Fund has launched an open-ended exchange-traded fund (ETF) replicating or tracking the Nifty IT index. The new fund offer for the DSP Nifty IT ETF opened on Wednesday and will be available for subscription till July 3, 2023.

Indias Digital Revolution: As vehicles and aircraft increasingly use complex digital technology and algorithms and aerospace companies expand business, India provides a ready supply of digital engineering talent. Lower cost of Indian talent drives offshoring from developed countries.

As vehicles and aircraft increasingly use complex digital technology and algorithms and aerospace companies expand business, India provides a ready supply of digital engineering talent. Lower cost of Indian talent drives offshoring from developed countries.

Infosys was mutual funds' top IT pick in May. Fund managers bought a net Rs 1,545.18 crore worth of Infosys shares for the month as they upped stake in the IT firm to 16.65 per cent from 16.36 per cent.

Tata Elxsi share price target: JPMorgan has a target of Rs 4,600 on the stock, which suggests a 40.64 per cent drop from the prevailing price of Rs 7,749.80. JPMorgan finds 57 times one-year forward PE for Tata Elxsi as excessive.

Nifty IT fell two per cent, with most IT stocks trading with losses. This comes after a healthy gain of six per cent last month. The IT sector has been limited by worsening economic conditions in critical global markets.

World Environment Day: India has set a 30% electric vehicle adoption target by 2030. Companies such as Tata Motors, Mahindra & Mahindra, TVS Motors, Hero MotoCorp, and Amara Raja Batteries are likely to benefit.