News

Every single constituent of the Nifty IT is now down more than 10% on a year-to-date basis. Six out of the 10 constituents are already down 20% in just the first two months of the year. Here's a look at the extent of the sell-off.The Nifty IT index is down 19% already in the month of February with three more sessions left for the month to end. This is now turning out to be the worst month for the 10-stock index dating all the way back to September 2008, the onset of the Global Financial Crisis.Every single constituent of the Nifty IT is now down more than 10% on a year-to-date basis. Six out of the 10 constituents are already down 20% in just the first two months of the year. Here's a look at the extent of the sell-off.Coforge | The worst performing stock on the Nifty IT index this year is Coforge. The stock is down nearly 25% in just the first two months. This is already turning out to be the worst year for the stock since 2022, when it fell 35%. 29 out of the 38 analysts tracking the stock still have a "buy" rating on it, with the consensus estimate of price targets implying an upside potential of 51% from current levels.Wipro | The second-worst performer on the IT index this year is Wipro, with a 23.5% drop. This is also the worst year for the stock since 2022 in just the first two months. Back in 2022, Wipro shares fell 45% in value. Only 10 out of the 47 analysts tracking the stock have a "buy" rating on it. The consensus estimate of price targets implies an upside potential of 29%.Persistent Systems | One of the top performers within the Midcap IT space, Persistent Systems shares are also down 23.5% so far this year. The last time it fell such a quantum, was back in 2011, when it also fell 23.5%. 25 out of the 43 analysts tracking the stock have a "buy" rating on the stock. The consensus estimate of price targets implies an upside potential of 39% from current levels.LTIMindtree | Another IT stock with losses of over 20% in just the first two months, LTIMindtree is now down 22.5% so far this year. The stock was down over 40% back in 2022. 22 out of the 44 analysts tracking the stock still have a "buy" rating on the stock, with the consensus estimate of price targets implying an upside potential of 36% from current levels.Infosys | The second-largest IT services company is now down 20% so far in the first two months of the year. This is now the worst year for Infosys so far since 2008, when the stock had declined 37%. Out of the 52 analysts tracking the stock, 37 still have a "buy" rating, with a consensus upside potential of 37% from current levels.The other losers on the Nifty IT include Mphasis (Down 20%), TCS (Down 19%), HCLTech (Down 16%), Oracle Financial (Down 15%), and Tech Mahindra (Down 12%).NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.