Indian IT companies have posted their worst results in 11 quarters, and stocks in tier-one tech firms have dropped up to 21% in the past three months. Weak demand for IT services is squeezing earnings, while there is little expectation of recovery in the first two quarters of the 2023 financial year, resulting in signs of a slowdown. As a result, BofA Securities, despite analysts being slightly overweight on the sector, has issued an underweight on Indian IT stocks with neutral ratings for Infosys and TCS, and predicting that Wipro and Tech Mahindra will underperform.
Govt to sell up to 6% stake in Hindustan Copper via OFS; floor price at 10% discount
The government will sell a 3% stake in Hindustan Copper through an OFS at Rs 514 per share, with an option to divest another 3%.
August 24, 2026