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IT stocks have taken a massive hit, losing over Rs 6 lakh crore in market value across eight sessions, with the Nifty IT index dropping more than 8 per cent. The sell-off stems from fears that AI could automate core IT services like application development, maintenance, and testing – the backbone of Indian IT companies’…
The combined market valuation of six of the top-10 most valued firms eroded by more than Rs 3 lakh crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest laggards amid a bearish trend in equities.The 30-share BSE Sensex declined 953.64 points, or 1.14 per cent, during the week.Besides…
Tech shares continued to trade in red on Friday, extending losses as fears of disruption from artificial intelligence and fading hopes of an early interest rate cut by the US Federal Reserve continued to weigh down investor sentiment. At 9:50 am, the Nifty IT index slumped 4.59%, or 1,520 points, to trade at 31,639, reflecting…
India’s technology sector faced a major selloff on Thursday as the Nifty IT index dropped over 4 per cent to a four-month low. Top IT companies like TCS, Infosys, and Wipro lost more than 4 per cent of their value. The sector’s total market value fell by Rs 1.3 lakh crore due to fears about…
MUMBAI: State Bank of India (SBI) on Wednesday went past Tata Consultancy Services (TCS) to become the fourth most-valued company in India. It’s also the most valued public sector entity. On Monday, SBI had gone past ICICI Bank‘s market capitalisation and now it’s within touching distance of Bharti Airtel‘s market cap.The recent surge in its…
State Bank of India (SBI) has overtaken Tata Consultancy Services (TCS) to become India’s fourth-largest listed company by market capitalisation, supported by a sharp post-results rally and improving sentiment around public sector banks.SBI’s market capitalisation now stands at nearly Rs 10.92 lakh crore, ahead of TCS at about Rs 10.52 lakh crore, according to an…
The sell-off in IT stocks was triggered by an announcement from US-based AI startup Anthropic. (AI image) IT stocks crash! Shares of Indian IT majors Infosys, Wipro, HCL Tech, Tata Consultancy Services (TCS), and Persistent Systems tanked in opening trade on Wednesday, dragging Sensex down by over 100 points. The decline was due to concerns…
The Budget has proposed to reduce the tax collected at source (TCS) for self-funded education and medical purposes abroad under the liberalised remittance scheme from 5% to 2%. However, the TCS rate for other purposes will continue at 20%.Govt had last year exempted remittances for education from TCS where such remittance is from a loan…
In daily life, most people focus on how much tax they pay, but rarely on when and how it is collected. An increasingly visible part of India’s tax ecosystem is tax collected at source (TCS), which requires a portion of tax to be collected upfront on certain transactions. For many taxpayers, the timing of this…
BENGALURU: With just 17 net hires in the first nine months of the 2025-26 financial year, India’s top five IT companies eased off the hiring throttle and moved firmly into caution mode. The muted performance marked a sharp contrast to the 17,764 net additions recorded during the same period last year, highlighting how the hiring…
