Explained: Why IT stocks ignored Donald Trump’s PERM suspension to gain Rs 70,000 crore in one day
IT stocks rallied up to 4% on Friday, adding Rs 70,000 crore in market capitalisation, despite the US suspension of a labour certification programme. Strong Q2 results from TCS, easing oil prices and bond yields, and developments around OpenAI also supported sentiment. TCS gained after reporting 15% profit growth, while brokerages flagged near-term margin pressures and...
Key Takeaways
- IT stocks rallied up to 4% on Friday, adding Rs 70,000 crore in market capitalisation, despite the US suspension of a labour certification programme.
- Strong Q2 results from TCS, easing oil prices and bond yields, and developments around OpenAI also supported sentiment.
- TCS gained after reporting 15% profit growth, while brokerages flagged near-term margin pressures and evolving AI-related risks.
IT stocks rallied up to 4% on Friday, adding Rs 70,000 crore in market capitalisation, despite the US suspension of a labour certification programme. Strong Q2 results from TCS, easing oil prices and bond yields, and developments around OpenAI also supported sentiment. TCS gained after reporting 15% profit growth, while brokerages flagged near-term margin pressures and evolving AI-related risks.
Original Publisher Attribution
This summary was curated from Economic Times.