Page 45 - Persistent Systems News Today

India Business News: In stark contrast, large players in the IT sector have reported lackluster figures and are bracing themselves for a decline in headcounts.

The Nifty IT index was trading 0.34 per cent down at 30833.15.

The Nifty IT index closed 0.11 per cent down at 30902.4.

Last year, the highest package for a domestic location offered in the online services sector was Rs 75.2 lakh.

A short build-up was seen in 61 stocks, including Manappuram Finance, Metropolis Healthcare, United Breweries, HDFC Asset Management Company, and Larsen & Toubro. An increase in OI along with a fall in price points to a build-up of short positions.

India Business News: While AI-based automation solutions take over routine tasks, experts predict a rise in more strategic and decision-making positions.

The Nifty IT index closed 0.49 per cent down at 31060.2.

The Nifty IT index was trading 0.7 per cent up at 31247.3.

The Nifty IT index closed 0.59 per cent up at 31212.1.

In August 2021, one sector which had “ buy and strong buy” written all over it was IT or more commonly called software sector. Today, a number of them have “hold” recommendations by analysts. In case of stocks where they have buy recommendations their price targets are very modest, or in a number of cases analysts are expecting that the valuations of IT stock are still high and there is room for further decline in prices, Though they have refrained from giving “ sel...