Infosys drops below ₹1,000, Wipro hits ₹161.66 yearly low
Business
Infosys and Wipro shares took a hit on Friday, with Infosys dropping below ₹1,000 for the first time since July and Wipro hitting a new yearly low at ₹161.66.
It's another sign that India's big tech companies are feeling the heat as the industry deals with shifting trends and fresh challenges.
Indian IT sector under investor pressure
It wasn't just Infosys and Wipro: other major IT firms like TCS, Coforge, and Mphasis also saw their stocks fall.
The whole sector is under pressure as investors worry about slowing tech spending, rapid changes from AI advancements, and global market jitters.
Even though broader markets like Nifty 50 and Sensex managed small gains today, they're still on a seven-week losing streak thanks to things like high oil prices and global uncertainty.