Business & Finance
India's IT stocks head for worst day in four months; TCS plunges 9%
Key Points
India's IT stocks head for worst day in four months; TCS plunges 9% June 3 : India's information technology stocks were headed for their biggest single-day drop in over four months on Wednesday as investors assessed the impact of AI on demand for traditional software services. The IT index was down 5.8 per cent at 29,310.25 points. If losses hold, this would be its worst day since February 4.
India's IT stocks head for worst day in four months; TCS plunges 9%
June 3 : India's information technology stocks were headed for their biggest single-day drop in over four months on Wednesday as investors assessed the impact of AI on demand for traditional software services.
The IT index was down 5.8 per cent at 29,310.25 points. If losses hold, this would be its worst day since February 4.
India's largest software exporter Tata Consultancy Services slumped 9 per cent and led losses, while Bengaluru-based Infosys and Wipro dropped 4.3 per cent and 3.7 per cent, respectively.