Tech stocks stay in the red for 4th session, BSE IT index hits a 3-week low - Moneycontrol

After Wipro and TCS, Infosys reports variable pay cut to fight shrinking margins. Rich valuations and an anticipated slowdown in IT spends, given the rising inflation and a likely slowdown in global growth, build pressure on the IT stocks

Shrinking margins amid rising fears of a global economic slowdown have battered the IT stocks to three-week lows with the BSE IT index shedding 1.2 percent on Tuesday. The BSE IT Index lost 3.6 perc… [+3020 chars]

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