Wipro, Infosys Slump To New 52-Week Low

Shares in Infosys and Wipro fell to fresh 52-week lows, as investors sold IT stocks agressively.

Posted By:
Subscribe to GoodReturns

Shares in Wipro and Infosys slumped to a new 52-week low in trade, as investors continued to dump IT stocks for the first time in many years, as doubts have surfaced over the financial performance.

Infosys, fell to a new 52-week low of Rs 993.15, before the stock saw some recovery and was trading at Rs 998. Wipro on the other hand fell to a new low of Rs 454.10 and was last trading at Rs 458.20.

Wipro, Infosys Slump To New 52-Week Low
HCL Tech and TCS have some way to go before they fall to 52-week low, but, investors are clearly dumping IT stocks. On Thursday, MindTree fell to a new 52-week low. It is understandable if the markets have fallen to a new 52-week low, but, the markets are buoyant, while IT stocks slide.

This quarter was bad for the IT sector, which traditionally has been a good quarter. The problem is that not a single IT company, managed to really churn out a good performance. It is clear that IT spends are down and there would be some more struggle for the sector.


Read more about: wipro, infosys
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?