BENGALURU: US President Donald Trump's tariff announcement sent tech stocks into a frenzy on Thursday. Stocks of Indian IT firms fell between 3% and 10% amid projections of sluggish growth and restrictive trade measures affecting some sectors that might impact overall technology expenditure . The increasing macroeconomic uncertainties are expected to affect growth prospects in FY 26.
TCS fell nearly 4%, while Infosys dropped about 3.5%. Mid-tier IT firms Persistent Systems and Coforge plummeted nearly 10% and 7.7% respectively. Chirag Kachhadiya of Ashika Stock Broking, said, "The US remains the largest revenue-contributing geography for large-cap IT companies, accounting for over 50% of industry revenue. While we do not expect IT services to face a direct impact from tariffs, restrictive trade policies affecting other sectors and countries could influence overall tech spending."
TCS fell nearly 4%, while Infosys dropped about 3.5%. Mid-tier IT firms Persistent Systems and Coforge plummeted nearly 10% and 7.7% respectively. Chirag Kachhadiya of Ashika Stock Broking, said, "The US remains the largest revenue-contributing geography for large-cap IT companies, accounting for over 50% of industry revenue. While we do not expect IT services to face a direct impact from tariffs, restrictive trade policies affecting other sectors and countries could influence overall tech spending."
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