Lucknow Press
The impact of the 50 basis point bank rate cut by the Federal Reserve in the US is being seen in the IT stocks of the Indian stock market. Shares of Wipro Ltd, Tata Consultancy Services, Tech Mahindra Ltd, HCL Technologies Ltd and Mphasis Ltd are declining after the initial rise.
Tata Consultancy Services Ltd Share
The current price of Tata Consultancy Services Ltd is ₹4,311.55, down by ₹34.60 (0.80%). The stock opened at ₹4,390.05, while the day’s high was ₹4,422.20 and low was ₹4,291.65. The company has a P/E ratio of 33.44 and a market cap of ₹15.60 lakh crore. In the last one year, TCS has a 52-week high of ₹4,592.25 and low of ₹3,311.0
HCL Technologies Ltd
The current price of HCL Technologies is ₹1,744.25, down by ₹12.25 (0.70%). The stock opened at ₹1,776.00, while the day’s high was also ₹1,776.00 and low was ₹1,732.50. The company has a P/E ratio of 28.82 and has a market cap of ₹4.72 lakh crore. The 52-week high of HCL Technologies in the last one year was ₹1,828.00 and low was ₹1,208.55.
Mphasis Ltd
Its current share price is ₹2,944.95, down by ₹59.45 (1.98%). Today, the stock opened at ₹2,971.15, with an intraday high of ₹3,035.00 and a low of ₹2,947.35. The company has a P/E ratio of 36.15 and a market cap of ₹56.22 billion. In the last one year, Mphasis has a 52-week high of ₹3,187.80 and a low of ₹2,069.10.
Wipro Ltd
The current price of Wipro stock is ₹537.00 with a drop of ₹1.15 (0.21%). Wipro stock opened at ₹544.20 today with an intraday high of ₹551.45 and a day’s low of ₹533.05. The company has a P/E ratio of 25.17 and a market cap of ₹2.81 lakh crore. Wipro has a 52-week high of ₹579.90 and a low of ₹375.05.
Tech Mahindra Ltd
It is a stock which is showing marginal gains. Its current price is ₹1,609.40, up by ₹4.00 (0.25%). The stock opened at ₹1,620.00, while the day’s high was ₹1,635.35 and low was ₹1,598.25. Tech Mahindra has a P/E ratio of 56.72 and a market cap of ₹1.57 lakh crore. Tech Mahindra has a 52-week high of ₹1,672.00 and low of ₹1,098.15.
Infosys Ltd
The current price of the stock is ₹1,894.85, up by ₹2.70 (0.14%). The stock opened at ₹1,910.60, with a day’s high of ₹1,924.90 and low of ₹1,889.25. The company has a P/E ratio of 29.47 and a market cap of ₹7.85 lakh crore. Infosys’ 52-week high in one year is ₹1,975.75 and low is ₹1,351.65.
The Federal Reserve on Wednesday aggressively cut interest rates by half a percent. This is the first rate cut announced since March 2020. This move of a rate cut of 0.50 points has cleared the way to reduce the cost of borrowing on everything from mortgages to credit cards. This decision of the US Fed Reserve has an impact on markets around the world. Now it remains to be seen how the US labor market and job market react.
