Indian IT stocks could be down amid current headwinds, but they are the backbone of the domestic economy, generating millions of jobs, foreign exchange reserves while building a tech ecosystem, Gurmeet Chadha, Managing Partner & CIO at Complete Circle Consultants, said, slamming analysts who in his views are “abusing” top IT companies. He said that … Read more
Shares of Oracle Financial Services Software (OFSS) jumped more than 9% to Rs 643.95 on the BSE on Wednesday, tracking the dramatic 27% after-hours surge in parent company Oracle Corp’s shares. Investors cheered Oracle’s ambitious cloud outlook, including a forecast for half a trillion dollars in booked revenue, and multi-billion-dollar client deals that could drive … Read more
Mumbai: Information technology (IT) stocks were the biggest gainers in Wednesday’s trading, after HCL Technologies‘ stronger-than-expected earnings outlook prompted traders to cover some of their bearish bets that were initiated after earnings announcements of its larger peers –TCS and Infosys. The Nifty IT index shot up 4.3% – posting its biggest single-day gain in 10 … Read more