Here are the top three reasons according to TradingView News
The Indian IT sector witnessed a decline on Tuesday, with the Nifty IT index falling over 1% after a three-day rally that had seen gains of up to 2%. All 10 constituents of the index were in the red, with Mphasis being the worst performer, declining 1.75% to Rs 2,847.50 on the NSE. Other major losers included Oracle Financial Services Software, HCL Technologies, Infosys, Tata Consultancy Services, Wipro, and LTIMindtree, which fell up to 1%.
The decline was attributed to profit booking at higher levels, as investors cashed in on the gains made during the previous three sessions. Additionally, investors were cautious ahead of the release of US jobs data for November, which is closely watched for signals on the interest rate outlook in the US. Indian IT companies derive a significant portion of their revenue from US clients, making the sector sensitive to developments in the US economy.
Global brokerage Citi has also reiterated its cautious stance on the global and Indian IT services sector, citing a slow recovery in demand. The brokerage prefers Infosys and HCL Technologies in the large-cap IT space, but notes that the overall demand environment remains stable but lacks clear signs of a rebound. Discretionary spending remains relatively muted across most segments, barring banking, financial services, and insurance.
Citi also flagged uncertainty around the revival of discretionary spending and noted that demand remains slower than historical levels. The brokerage remains neutral on the US IT sector and prefers Capgemini in the European IT space. The decline in the IT sector on Tuesday suggests that investors are becoming increasingly cautious ahead of key economic data releases and are booking profits after the recent rally. However, it is essential to note that the views expressed by experts are their own and not those of the website or its management, and investors should always consult with certified experts before making any investment decisions.
Nachiket Deshpande, whole-time director and president of AI services at LTIMindtree, has resigned from his position.
Nachiket Deshpande, the President and Whole-time Director of LTIMindtree Ltd, has announced his resignation from the company, effective October 31, 2025. Deshpande has been with LTIMindtree for seven years, serving as Chief Operating Officer and most recently as President of AI Services. In his resignation letter, he expressed his gratitude to the company, stating that it has been a “crucible of innovation, leadership, and personal growth” for him.
Deshpande highlighted his achievements during his tenure, including leading transformative initiatives and scaling AI Services into a strategic pillar of the company’s future. He also acknowledged the trust and teamwork he experienced, saying he would remain LTIMindtree’s “biggest cheerleader on the sidelines.” The company’s Chairman, S.N. Subrahmanyan, and CEO and Managing Director, Venu Lambu, praised Deshpande’s contributions, extending their gratitude and wishing him continued success in his future endeavors.
Deshpande’s resignation comes after LTIMindtree reported a higher profit in Q2, beating street estimates, and declared a dividend of ₹22. The company has also recently secured a large strategic multi-year deal with a global entertainment firm. Deshpande’s departure is seen as a significant change in the company’s leadership, but LTIMindtree’s management has expressed appreciation for his contributions and commitment to the company’s growth.
In his comments, Deshpande reflected on his journey, saying it has been an “incredible journey rich with opportunities to grow, learn, and contribute meaningfully” to the organization. He also thanked his colleagues, including Chairman SNS and board members, for the opportunity to work closely with them. With Deshpande’s resignation, LTIMindtree will need to find a new leader to fill the void, but the company’s management has expressed confidence in its ability to continue growing and succeeding in the future.
Tech Mahindra, Coforge, and LTIMindtree are set to release their quarterly earnings on the same upcoming date.
The board of directors of Tech Mahindra Ltd. is set to convene on October 13 and 14 to review and approve the company’s audited financial results for the second quarter and half year, which ended on September 30. The audited results are slated to be declared on October 14.
In accordance with the Securities and Exchange Board of India’s (SEBI) Prohibition of Insider Trading Regulations, 2015, and the company’s internal code of conduct, a trading window closure has been put in place for designated persons. The closure, which began on October 1, is intended to prevent insider trading and will remain in effect until October 16.
The trading window is scheduled to reopen on October 17, 48 hours after the declaration of the results. This is a standard practice to ensure that all stakeholders have equal access to the company’s financial information, and to prevent any potential insider trading activities. By closing the trading window, the company is adhering to regulatory requirements and maintaining the integrity of its financial disclosures.
The upcoming board meeting and the subsequent declaration of the audited results are significant events for Tech Mahindra Ltd., as they will provide stakeholders with valuable insights into the company’s financial performance during the second quarter and half year. The results will likely be closely watched by investors, analysts, and other stakeholders, who will be looking for indicators of the company’s growth, profitability, and future prospects.
In the lead-up to the board meeting and the declaration of the results, the company has taken necessary steps to ensure compliance with regulatory requirements and to maintain the confidentiality of its financial information. The closure of the trading window is an essential measure to prevent insider trading and to ensure that all stakeholders have equal access to the company’s financial information. With the trading window set to reopen on October 17, stakeholders will be able to react to the company’s financial results and make informed investment decisions.