India’s top technology stocks have been under pressure, having lost over ₹1.44 trillion in market capitalization over the last eight sessions, after sector bellwethers Infosys Ltd and Tata Consultancy Services Ltd (TCS) announced their March quarter earnings. Infosys, TCS, HCL Tech and Tech Mahindra corrected 6-8% since 9 April. Infosys lost over ₹38,000 crore in market value, while TCS erased ₹75,000 crore. HCL Tech lost ₹22,700 crore, and Tech Mahindra is down by ₹8,173 crore. That itself may be a case for slight disappointment given the general expectations going into the results," JM Financial said.

Source: Mint April 22, 2021 18:45 UTC