Market Now: MindTree, Infosys drag IT index

NEW DELHI: Shares of MindTree (down 3.05 per cent) emerged as the top loser in the Nifty IT index in Thursday's trade after it disclosed a lower than expected revenue growth on Wednesday due to the weak performance of one of its acquired entities Bluefin solutions.

Other stocks that followed it included KPIT Technologies (down 2.02 per cent), HCL Technologies (down 0.90 per cent), Infosys (down 0.83 per cent), Oracle Financial Services Software (down 0.63 per cent), Tata Consultancy Services (down 0.56 per cent) and Tech Mahindra (down 0.43 per cent).

However three stocks, Just Dial (up 8.58 per cent), Tata Elxsi (up 2.59 per cent) and Wipro (up 0.55 per cent) were trading in green.

Earlier, Just Dial informed bourses that the board will consider buyback of shares on July 24.

India's third largest IT firm Wipro is expected to report flattish numbers with net profit seen rising a mere 1.6 per cent QoQ at Rs 2,124 crore from Rs 2,090 crore for March quarter.

The Nifty IT was trading 0.55 per cent down at 10526.05 around 11:54 am (IST).

Benchmark Nifty50 index was 0.50 points down at 9,899, while the 30-share Sensex was 17 points up at 31,972 around the same time.

In the Nifty50 pack, 21 stocks were trading in green, while 30 stocks were in red.

On BSE, 1,260 stocks were advancing whereas 1,181 stocks were lagging.

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