The IT index opened 2 percent lower on Tuesday as the US markets plunged on Monday. This was due to recession fears following US Treasury Secretary Scott Bessent’s warning about an economic “detox period” due to government spending cuts. Further, President Donald Trump acknowledged a transition phase but remained optimistic.
The “Magnificent Seven” tech stocks led the decline with the Dow Jones falling 2 percent, the S&P 500 nearly 3 percent and the Nasdaq tumbling over 4 percent.
Coforge Ltd
With a market capitalization of Rs 49,654.95 crore, Coforge Ltd fell 4 percent in Tuesday’s trading session and made an intraday low of Rs 7,223.90 per share compared to its previous closing price of Rs 7,530.55 per share.
The shares reiterated from the day’s low and were trading at Rs 7,425.25 which is 1 percent lower than the previous close.
Coforge is an IT services company offering comprehensive software solutions and services. It is among India’s top 20 software exporters and serves major global clients such as the ING Group, British Airways, SEI Investments, SITA, and Sabre. Coforge has established subsidiaries in the US, Singapore, Australia, the UK, Germany, and Thailand, focusing on marketing and project mobilization.
Infosys Ltd
With a market capitalization of Rs 6,82,688.67 crore, Infosys Ltd fell nearly 4 percent in Tuesday’s trading session and made an intraday low of Rs 1,637.05 per share compared to its previous closing price of Rs 1,702.75 per share.
The shares reiterated from the day’s low and were trading at Rs 1,643.95 which is 3 percent lower than the previous close.
Infosys is engaged in providing technology, consulting and outsourcing services. The segments of the company include retail, financial services, communication, manufacturing and life sciences among others. Its diverse product portfolio includes Finacle, Panaya platform, Infosys Equinox, Infosys Cortex and many more.
Wipro Ltd
With a market capitalization of Rs 2,88,441.68 crore, Wipro Ltd fell 3 percent in Tuesday’s trading session and made an intraday low of Rs 273.10 per share compared to its previous closing price of Rs 280.90 per share.
The shares reiterated from the day’s low and were trading at Rs 275.45 which is 2 percent lower than the previous close.
Wipro is a global company that operates through 2 segments: IT services and IT products. The services segment includes customer centric design, digital strategic advisory, systems integration and package implementation. The products segment primarily consists of third-party IT products which allows it to provide IT system integration services.
Tata Consultancy Services Ltd
With a market capitalization of Rs 12,89,540.66 crore, Tata Consultancy Services Ltd fell over 1 percent in Tuesday’s trading session and made an intraday low of Rs 3,536.90 per share compared to its previous closing price of Rs 3,588.10 per share.
The shares reiterated from the day’s low and were trading at Rs 3,570.20 which is a slight decrease compared to the previous close.
Tata Consultancy Services (TCS), the flagship company of the Tata Group, is a leading IT services, consulting, and business solutions provider. For over 50 years, TCS has collaborated with some of the world’s largest businesses, supporting their transformation journeys. The company offers an AI-powered, consulting-driven, and integrated portfolio of technology, business, and engineering services and solutions.
Written by Shwetha Sairam
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