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While shares of Wipro have plunged 38% in a year, Infosys stock has lost 22.29% during the period. Stock of another IT behemoth TCS is down 14.23% in a year.
Market watchers hold mixed views on the sector ahead of Q4 results. IT major Tata Consultancy Services will announce its results on April 12, while Infosys and HCL Technologies will declare their financial results on April 13 and April 20, respectively.
The correction in Indian IT stocks such as Wipro, Infosys and TCS this year has left investors confused about the positions they should take to achieve maximum returns from their portfolios. Among the three IT bellwethers, Wipro stock has slipped the most, declining 45% this year. Wipro shares which closed at Rs 715.20 on December 31, 2021 were trading at Rs 394.95 in the current session. On the other hand, Infosys stock has lost 18.19% and shares of TCS have tumbled just 11.45% in 2022. In a time-span of one year too, Wipro has emerged as the top loser falling 38%, followed by Infosys (11%) and TCS (7.3%). ....