Nifty IT dips over 2% as TCS misses Street estimate, Infy likely to put up a poor show
News2023-04-13
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TCS reported Q4FY23 earnings that missed street expectations, causing a 2% slump in the Nifty IT index, with TCS also trading down by 2%. The recent US banking crisis has resulted in estimate cuts by analysts and increased caution among investors for Indian IT companies that rely heavily on revenue from the BFSI sector, particularly from the US and Europe.
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