The likelihood of a slowdown in the US and Europe has led to investors and analysts turning cautious about the IT sector s prospects. Most large software services exporters derive a large chunk of their revenues from developed economies. The dim outlook for IT spending has resulted in analysts cutting earnings estimates for these companies.
U.S. Border Patrol agents recently disrupted an attempted smuggling run moving 14 Indian nationals from Canada into the U.S. along the Quebec and New York State border, court records show. The driver of the vehicle the agents stopped said he was recruited for the smuggling run in a manner resembling a spy novel.
The stock of LTIMindtree finished at Rs 5,001 a piece on Monday, which means it is down about 5 per cent from its all-time high as its June quarter results for the 2023-24 financial year (Q1FY24) missed estimates.
A cautious note by the management, coupled with the fact that it will miss its double digit revenue growth target for FY24 weighed on the stock price.
The company delivered revenues of just over a billion dollars in the quarter with constant currency growth of 0.1 per cent.
Delhi's Saket Court on Saturday reserved an order on the charge against Aftab Amin Poonawala accused in the Shraddha Walkar murder case. The court will pronounce the order on the charge on April 29.