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There will be pressure in the IT sector even further, companies like TCS, HCL Tech have invested money, so know what to do

IT Sector Shares: These days there has been a lot of pressure in the stocks of the IT sector. Experts believe that in the coming days, there may be pressure in the shares of the IT company going forward. Explain that this is likely to happen due to the deteriorating economic situation in the global market and fluctuations in the financial market.

TCS released quarterly results
The country’s largest software exporter Tata Consultancy Services (TCS) reported a 5.2 per cent increase in net profit for the June quarter. The company’s quarterly results came after the close of business on Friday. Meanwhile, IT stocks are falling and the BSE IT index has fallen nearly 24 per cent so far this year.

Will keep an eye on UK developments
Experts believe that the challenges of raising salaries due to volatility in exchange rates and massive talent crunch are impacting operating margins. Although it is too early to draw any conclusions, but everyone is keeping a close eye on the developments going on in Britain. In the rapidly changing political developments there, Indian-origin Rishi Sunak is considered a strong contender to become the Prime Minister. Sunak is the son-in-law of Infosys co-founder NR Narayana Murthy.

Shares of IT companies slipped 43 percent
Aditi Patil, research associate at brokerage firm Prabhudas Lilladher, said the macroeconomic environment in the US and Europe is showing signs of worsening and will have an impact on the IT sector. IT stocks are expected to remain under pressure. This is the reason why five IT stocks of the 30-share Sensex have lost 43 per cent this year.

Know how much the stock of which company slipped?
So far in the year 2022, Tech Mahindra has fallen by 42.68 percent, Wipro 41.38 percent and HCL Technologies by 25.38 percent. TCS and Infosys fell 12.63 per cent and 19.87 per cent, respectively. So far this year, the Sensex has lost 3,771.98 points or 6.47 per cent.

Sector is good even after sharp decline
Apoorva Prasad, Vice-President, HDFC Securities, said there is a lot of potential for the IT sector to grow double digits in the medium term. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said that IT stocks are very good after the recent sharp fall.

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