Tech Titans Take a Tumble as Weak Prospects Panic Players

A brutal sell-off in IT stocks dominated the list of top losers on the Nifty on Friday, as a combination of disappointing earnings, weak forward guidance and global uncertainty triggered carnage across the sector. The rout reflects a deeper worries gripping the Street—fading demand visibility in key overseas markets just as macro headwinds intensify. 

The pressure was widespread and relentless, with frontline IT names bearing the brunt of the sell-off. Investors appeared to be repricing growth expectations after a series of underwhelming earnings and cautious commentary, reinforcing fears that the sector may be entering a prolonged phase of slowdown.

Top Losers

Infosys: led the carnage on the markets, plunging seven percent to close at Rs 1,154.80, while going as low as Rs 1,152.20 during the day. The stock spiral reflects a deep loss of confidence after the company shared a muted revenue outlook. Its cautious guidance has effectively reset the narrative for the entire IT pack

TCS: India’s top software-services exporter came next on the list of losers as the company bled 4.8 percent to close at Rs 2,401 while touching a low of Rs 2,388.80 during the day. Often seen as a bellwether for India’s more than $190 billion software industry, the company could not escape the carnage. To be sure, the markets were upset with the 2.4% drop in full-year dollar revenue reported earlier this month.

Tech Mahindra: told a similar tale, tumbling 4.20 percent to Rs 1,361.80 and touching a low of Rs 1,347.40 during the day. The company had reported its revenue exceeding expectations two days back but investors were quick to notice that the expectations the software exporter beat were already muted to begin with, something that showed in the markets.

HCLTech: also hurt as the stock gave up four percent to close at Rs 1,202.50 but not before stooping as low as Rs 1,198.10. Its weak FY27 guidance reported two days back as part of the results continues to overhang the stock, reinforcing fears that growth could stay subdued for longer than earlier anticipated.

Sun Pharma: stood as the odd one out, the only non-IT firm managing to wind up on the biggest losers list. It declined more than 3.5 percent to Rs 1,618 with the mood going as low as 1,613.60 after reports said the company was considering a $13 billion bid for US-based Organon & Co. The news did not go down well with investors who saw the move as a misallocation of the company’s capital.

Source:

• NSE