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Infosys saw a share plunge of 7.7% after the company cut its FY24 revenue guidance from 4-7% to 1-3.5%, resulting in an industry-wide sell-off that saw the NSE IT index fall 4.1%. Jefferies, Nomura, Bank of America Securities, Motilal Oswal Financial Services, Nuvama Institutional Equities and HSBC cut earnings estimates as a result.

TCS: ET had previously reported that Q1 headcount growth for the IT majors is expected to be flat, in line with the numbers reported for the January March quarter.

As more stocks from different sectors see an improvement in their analyst scores, it is important to be selective before being bullish when looking at stocks. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.

​Probably, the management thinks they can get that. But I think, given the environment as well, I think probably the entire budgetary amounts, I do not know if clients are actually spending that.

Infosys shares plunged nearly 10% to the days lows of 1,305 following its June quarter earnings on Thursday where it significantly cut its FY24 revenue growth guidance. The last major fall for Infosys was on April 17, 2023, when the stock fell by over 14% while the Nifty IT index fell 7.62%.

Chauhan said that the government has also sanctioned a capex of Rs 22,471 crores for a period of four years up to FY 2025-26 which also includes investment in the telecom companys 4G network.

A clutch of domestic and foreign investors backing online gaming companies in India has sought a meeting with Prime Minister Narendra Modi to voice their concerns on the 28% GST levied on the industry.

India Business News: MUMBAI: Another day, another high.

The winds of change blowing through the Indian credit industry might blow some off their perch. Mukesh Ambanis Reliance Industries is targeting the digital lending sector for its next disruption with a separate entity named Jio Financial Services. This and more in todays ETtech Morning Dispatch.

India Business News: India's IT sector is experiencing a surge in optimism driven by further investment in artificial intelligence (AI) and an improved outlook for the US