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IT shares resume downtrend as Geometric reports hugely disappointing results
Shares in IT companies resumed their downtrend as Geometric Software results reported hugely disappointing results.
The company reported a net profit of just Rs 3.3 crore, as against Rs 16.3 crores in the last quarter.
Financial performance of IT companies have lagged estimates this year with majors like TCS, Infosys, Wipro and HCL Tech reporting lower margins and muted revenue growth.
Stocks like TCS and Infosys have lost heavy ground in the last few trading sessions.
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