After outperforming all broad and sectoral indices in the first nine months of 2018, the information technology (IT) pack has run into rough weather. In October, the BSE IT index lost 7 per cent — its worst monthly performance in the last 18 months.
Lofty valuations, coupled with the poor performance by smaller-sized IT firms, has dampened investor sentiment. The management commentary from these firms has also indicated some concerns building up for the sector. “The correction seen in some of the IT names is due to a combination of factors. Some of the performance ...
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