SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

IT stocks reel under pressure on Cognizant’s bleak guidance

08 May 2012 Evaluate

Indian IT stocks came under pressure after US based tech major Cognizant Technology Solutions lowered its full-year forecast for the first time in nearly four years, echoing sentiments expressed by its India-based rivals like Infosys and Wipro as they battle lower discretionary spending by clients especially in the financial services segment.Cognizant cut its calendar year 2012 revenue growth outlook to 20% from 23%. However, TCS was also hit by a JP Morgan downgrade today. Meanwhile, appreciation in the rupee also weighed on IT stocks.

On the same time, Tata Consultancy Services (TCS) was downgraded to 'neutral' from 'overweight' on Tuesday by JPMorgan, which said the stock price is now 'fully valued' at the current 19 times forward fiscal 2013 earnings.

Tata Consultancy Services is currently trading at Rs 1208.15, down by 65.75 points or 5.16% from its previous closing of Rs 1273.90 on the BSE. The scrip opened at Rs 1225.00 and has touched a high and low of Rs 1235.45 and Rs 1200.30 respectively. So far 525883 shares were traded on the counter.

HCL Technologies is currently trading at Rs 480.85, down by 20.80 points or 4.15% from its previous closing of Rs 501.65 on the BSE. The scrip opened at Rs 497.40 and has touched a high and low of Rs 500.00 and Rs 480.20 respectively. So far 54186 shares were traded on the counter.

Financial Technologies (India) is currently trading at Rs 608.00, down by 20.45 points or 3.25% from its previous closing of Rs 628.45 on the BSE. The scrip opened at Rs 630.00 and has touched a high and low of Rs 635.00 and Rs 605.55 respectively. So far 49740 shares were traded on the counter.

TCS Share Price

2610.55 32.10 (1.24%)
21-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
TCS 2610.55
Infosys 1313.10
HCL Tech. 1441.55
Wipro 205.05
Tech Mahindra 1500.35
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×