Infosys falls to ₹986.90, market cap halves to ₹4L/cr
Business
Infosys just dipped below the ₹1,000 mark, down to ₹986.90, which hasn't happened since September 2020.
The stock has lost 40% this year and nearly half its value in the last 18 months, shrinking Infosys's market cap from a massive ₹8.37 lakh crore to just ₹4 lakh crore.
Nifty IT index down 32%
India's IT sector is having a tough year: think worst since 2008 levels.
The Nifty IT index is down 32%, with worries about AI replacing traditional tech jobs, slow earnings growth, and rising US interest rates making things worse.
Tools like Anthropic's Claude Code are making investors nervous about future demand.
Add in weak forecasts and global issues like high US inflation and oil prices, and it's no surprise that big IT stocks are struggling right now.