In tech meltdown, Indian biggies not hit as hard as global giants

Have Indian IT stocks been able to decouple from their global peers listed on Wall Street? That’s a question that several domestic market players are grappling with as they witness a great divide between the newly listed tech-driven companies in India that have seen their stocks crash, while the more traditional ones mostly weathered the global onslaught.
Consider this: Among the larger Indian IT services exporters, other than Wipro andTech Mahindra, the loss in stock prices of TCS, Infosys and HCL Tech are in mid-teen percentage points to low double digits.
In contrast, stock prices of Paytm and Policybazaar have plunged nearly 60%, while Zomato is down 52%. In the same period, stocks of global tech titans like Meta and Amazon have fallen 67% and 45%, respectively.

IT tech gfx

According to analysts, IT services exporters have showed gross profit margin expansion despite slower top line growth…

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