While the IT index was the worst hit among the sectoral indices on the BSE today shedding 247 points and IT stocks took a hit in the wake of Infosys’ Q3 results, it was not as if the sector was written off by the investors today.
Barring Infosys, which came under intense selling pressure losing more than 8 per cent, other IT stocks were not subjected to the same pounding by the investors, though these stocks are yet to announce the Q3 numbers.
Infosys tanked by Rs 237.40 or 8.4 per cent to close at Rs 2,588.60 after its Q3 numbers were out. More than the results, it was its guidance for the coming quarters that seemed to have spooked the stock.
TCS shed Rs 44.25 or 3.89 per cent at Rs 1,092.90 and Tech Mahindra was another big loser, down by Rs 23.25 or 3.75 per cent to close at Rs 596.65.
But other IT counters managed to limit their loses. Financial Technologies shed Rs 1.55 to Rs 608.30, Hexaware was down by 80 paise at Rs 83.40, MphasiS lost Rs 1.60 at Rs 335.85, HCL Tech was down by Rs 8.65 at Rs 405.35 and Wipro shed Rs 10.45 to Rs 391.
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