Shares of Tech Mahindra declined 2.97% to Rs 1,490.90 in Friday’s session on February 13, as global software stocks remained under heavy selling pressure.
The fall comes after a sharp overnight correction in U.S.-listed technology names. Infosys ADR plunged 9.8%, while Wipro ADR dropped 4.6%. Global IT services peers also faced steep losses, with Globant down 11%, EPAM falling 8.3%, Cognizant slipping 7%, Accenture declining 3.6%, and IBM losing 6.5%.
Broader technology counters added to the weak sentiment. Apple dropped 5%, AMD declined 3.5%, Palantir fell 4.8%, and AppLovin crashed 20%. Although Salesforce remained flat, ServiceNow rebounded 2.7% and Adobe gained 2%, the overall trend across global tech stocks stayed negative.
Indian IT stocks had already witnessed pressure on February 12 following ADR weakness, and the continued global sell-off has extended the decline across large-cap and mid-cap IT names. Tech Mahindra’s drop reflects broader sector-wide risk-off sentiment rather than any company-specific development.
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