Infosys shares drop 6th straight day, wipe out over ₹40,000cr
Business
Infosys shares just wrapped up their sixth straight day in the red, trading at ₹1,030.4 after dipping even lower during trading.
That's a nearly 11% drop over the six-day losing streak, wiping out over ₹40,000 crore from its market value, making Infosys the biggest loser on the Nifty IT index this week.
JPMorgan keeps neutral ₹1,050 target
It's not just Infosys feeling the heat: TCS, Wipro, HCLTech, and Tech Mahindra all saw their stocks slide by 3% to 6% too.
Even with these losses and tough competition across the IT sector, most analysts still see long-term potential for Infosys.
JPMorgan kept a Neutral rating with a target price of ₹1,050 and pointed out that while some areas like telecom are weak right now, financial services and manufacturing are holding steady.