Economic TimesLean R·
AI relief fails to lift legacy IT stocks as earnings worries weigh
Mumbai: Has Indian IT turned the corner?After surging more than 17% in October, the Nifty IT index appears to have lost momentum, declining nearly 2% so far in November, although the Sensex and Nifty harnessed new-found enthusiasm from foreign funds to climb more than 10% in the run-up to Diwali and its immediate aftermath.Legacy IT stocks have stagnated despite a precipitous plunge in AI-heavy bets across Asia, putting a question mark over whether earnings concerns at outsourcing firms would c…
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