Infosys, Wipro shares crash to 6-year lows as IT sell-off gathers pace; what is weighing on the sector?
New Delhi, Sept. 29 -- Shares of Infosys and Wipro, the country's second largest and fourth-largest IT services companies, have remained under sustained selling pressure, with the decline deepening further in Tuesday's trade.
During the intraday session, Infosys shares breached the Rs.1,000 mark again, falling to the Rs.980 level before seeing a mild recovery to close the session. The stock was last seen around these levels in October 2020.
Likewise, Wipro fell to its lowest level in six years after the stock lost another 3% in trade, falling to Rs.156 apiece. Today's losses have widened the stock's September losses to 15%.
In July, Infosys broke the key Rs.1,000 mark, but it recovered modestly in the following session, only to reverse...
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