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India's top IT companies, including TCS, Infosys, and HCLTech, have slashed their revenue forecasts due to concerns over weakening demand. The narrowing sales forecasts indicate that corporations are curtailing spending on software and IT projects. Local funds in India have emerged as the biggest buyers of shares this year, providing stability to the market amidst global uncertainty. The weak outlook from these IT giants, coupled with U.S. inflation concerns, has dragged down Indian shares. The pullback in campus hiring by Infosys signals a challenging job market. The waning demand for IT services has also impacted hiring at other Indian tech majors.
Waning demand for IT services hits hiring at Indian tech majors https://t.co/VPlovxag2c https://t.co/D4keNUGRVG
Breakingviews - Infosys campus pullback signals hard jobs reboot https://t.co/36B6KPefwv
Breakingviews - Infosys campus pullback signals hard jobs reboot https://t.co/mpoLJAQkyM
India's Infosys slides as revenue forecast cut on demand woes https://t.co/z7ocx8EBJv https://t.co/P5nNEzhePQ
Weak outlook from top IT companies, U.S. inflation woes drag Indian shares https://t.co/egGnKzRbdk https://t.co/XRfTEwsrMU
From Breakingviews - Infosys campus pullback signals hard jobs reboot https://t.co/Dm2np7UGBJ
India's HCLTech cuts FY revenue outlook as clients trim spending https://t.co/LYN22vkjns https://t.co/fzF53RF1Lp
Accenture to forego salary hikes for India, Sri Lanka employees This comes at a time when the larger sector has been facing macro headwinds and reduced client spending. https://t.co/UPASGoLiep
India's HCLTech trims full year revenue outlook https://t.co/5kqoHv65yg https://t.co/LBlxL0ABDY
India's Infosys cuts top end of FY revenue outlook https://t.co/LD5oFWS2KG https://t.co/dkgFXlKQHf
$INFY (-3.0% pre) Infosys Q2 Results: Guidance Trimmed Again Even As Revenue, Profit Rise - BQ Prime https://t.co/ZSzIVgnryL
Indian local funds have overtaken foreign investors as the biggest buyers of shares so far this year, helping provide an anchor to the market amid an uncertain global backdrop https://t.co/FemNAz94bf
Infosys narrows its sales forecast, a sign that corporations are continuing to curtail spending on software and IT projects https://t.co/o9EjCwG6pT
Infosys narrows its sales forecast, a sign that corporations are continuing to curtail spending on software and IT projects https://t.co/lyjl2HUfDS
Infosys narrows its sales forecast, a sign that corporations are continuing to curtail spending on software and IT projects https://t.co/PEZvwIDeri
India's TCS skids on demand recovery worries after Q2 revenue miss https://t.co/GycDchfevE https://t.co/4VzfzoUAnn