The correction in Indian IT stocks such as Wipro, Infosys and TCS this year has left investors confused about the positions they should take to achieve maximum returns from their portfolios. Among the three IT bellwethers, Wipro stock has slipped the most, declining 45% this year. Wipro shares which closed at Rs 715.20 on December 31, 2021 were trading at Rs 394.95 in the current session. On the other hand, Infosys stock has lost 18.19% and shares of TCS have tumbled just 11.45% in 2022. In a time-span of one year too, Wipro has emerged as the top loser falling 38%, followed by Infosys (11%) and TCS (7.3%).
Shares of IT majors Infosys, Wipro, and TCS hit their fresh 52-week lows today as Indian markets tanked in line with global equities. High interest rates in the US and other major economies to tame inflation have brought the global economy on the verge of a recession which in turn has roiled sentiment in markets worldwide. Shares of Indian IT companies, which earn a majority of revenue from global clients, have taken a beating this year as the earnings outlook during the looming global recession turns grim. The shares of the three IT majors, which cater to clients worldwide, have fallen up to 45 per cent in the last one year. While Infosys is down 21.52 per cent, stock of Wipro has plunged 44.81 per cent during the period. Shares of TCS are down 22.51 per cent in a year.
Infosys vs Wipro vs TCS: Shares of TCS are down 21.32 per cent in a year. Infosys has lost 15.87 per cent and stock of Wipro has plunged 38.59 per cent during the period.