NEW DELHI: Banking and IT are the two sectors, which saw a bulk of foreign equity outflows on a trailing 12-month basis. In its latest report, said the bulk of the FPI selling on a 12-month rolling basis has been concentrated around financials and IT, with a 93 per cent contribution along with FMCG, other … Read more
Month of May was particularly bad for IT stocks, as reflected in about 6 per cent drop in Nifty IT index. The main reason for such a fall is now crystal clear – data released by NSDL shows foreign portfolio investors (FPIs) sold stocks worth over Rs 16,000 crore from the sector amid volatile rupee. … Read more
After an 11% upmove, profit booking was expected. Now 11,600 is the immediate support, holding above which expect 12,000 to be crossed and head towards 12,250 and then possibly to all-time high of 12,428. Synopsis The BSE IT index has gained 99.6% from its March low while the Sensex has gained over 55% from its … Read more
Despite an uncertain business environment, Infosys has begun to get things moving on salary hikes and promotions, CEO Salil Parekh told ET Now in an interview. Plans are also afoot to start massive recruitments in many parts of the world including in India soon, he said. The software major had frozen hikes and promotion in … Read more