Major Multibagger IT Stocks Are Sharply Down Today, On Weak Global Cues

Indian equity markets are down today. The Nifty stood at 17,562.45 points falling by 1.11%, at the time of writing. On weak global cues, major IT stocks are falling sharply. Nasdaq Inc fell by 0.12%, and S&P 500 fell by 0.78%. The US Federal Reserve is expected to hike its interest rate this month, and investors are worried about that. These below-mentioned major IT stocks dropped significantly today in India, check details.

Wipro Limited

The company's share price closed at Rs. 410.05 falling by 0.85% today. In the last 5 days, its share price has fallen by 2.07%, and in the last 1 month, its share price has fallen by 4.42%. In the past 6 months it has fallen 26.14%, and in last 1 year its share price has fallen by 36.13%. However, its share price has surged by 84.42% in the last 5 years. Its 52-week high range is Rs. 739.85, and 52-week low range is Rs. 391.

Wipro results

Wipro Ltd. has recorded a 21% fall in Q1FY23 profit. In the same quarter its consolidated net profit was reported to be at Rs. 2,564 crore, compared with Rs. 3,243 crore in Q1FY22. Additionally, its revenue from operations increased by around 18% to Rs. 21,529 crore, while it was at Rs. 18,048 crore in Q1FY22.

This large cap company has a market capitalization of Rs. 224,631 crore.

Infosys Ltd

The company's share price closed at Rs. 1,458.75 falling by 2.29% today. In the last 5 days, its share price has fallen by 5.56%, and in the last 1 month, its share price has fallen by 5.93%. In the past 6 months it has fallen 14.31%, and in last 1 year its share price has fallen by 13.03%. However, its share price has surged by 217.22% in the last 5 years. Its 52-week high range is Rs. 1,953.90, and 52-week low range is Rs. 1,367.15.

 

Infosys results

In FY22, Infosys' PAT increased by 14.3% YoY to Rs. 22,110 crore, while the company's revenue jumped by 21.1% YoY to Rs. 121,641 crore. The IT major has recorded a $16.3 billion in its revenues, by marking the highest annual growth in the last one decade. Its operating margin also grew by 23.0%.

This large cap company has a market capitalization of Rs. 614,305 crore.

Tata Consultancy Services Limited (TCS)

The company's share price closed at Rs. 3,135.30 falling by 2.36% today. In the last 5 days, its share price has fallen by 3.87%, and in the last 1 month, its share price has fallen by 4.96%. In the past 6 months it has fallen 11.59%, and in last 1 year its share price has fallen by 15.60%. Its share price has surged by 155.27% in the last 5 years. Its 52-week high range is Rs. 4,043, and 52-week low range is Rs. 2,953.

TCS results

TCS has reported a 5.21% YoY gain in its consolidated net profit at Rs. 9,478 crore in Q1FY23 compared with Rs. 9,008 crore in Q1FY22. Its consolidated revenue in the same quarter increased by 16.2% YoY to Rs. 52,758 crore compared with Rs. 45,411 crore in Q1FYY22. Additionally, EBIT margin was reported to be at 23.1% in Q1FY23, compared with 25% in the previous quarter.

This large cap company has a market capitalization of Rs. 1,146,417 crore.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, and the author are not liable for any losses caused as a result of decisions based on the article.