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Fund flows to Indian IT stocks set to rise on positive earnings surprise -- analysts
by Bharath Rajeswaran and Haripriya Suresh
Reuters Translate This Article
17 January 2024
On 17 January 2024 Reuters reported:
Fund flows into India's information technology stocks both from local and global investors are expected to rise gradually over the next two quarters, led by growing optimism for a soft landing of the U.S. economy and better-than-expected earnings, analysts said. Shares of India's IT companies, which earn a significant share of their revenue from the U.S., surged 16.13% in the final two months of 2023, exceeding the benchmark Nifty 50's 13.9% gain.
Global Good News service views this news as a sign of rising positivity in the field of business, documenting the growth of life-supporting, evolutionary trends.
To read the entire article click here
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