Sunday, March 08
After a brutal two-day selloff that saw Infosys and Wipro ADRs plunge as much as 14.5%, Friday’s session brought a much-needed breather. Bargain hunting kicked in at lower levels, sparking a sharp rebound as Infosys climbed 4% while Wipro gained 3%—helping both stocks close the week on a far stronger note.As much as Rs 5.7 lakh crore evaporated from the sector in just eight trading sessions and the Nifty IT index crashed 19% in the short span. The selloff wasn’t restricted to the two, IT bellwether plunged to its over 5-year low on Friday. Coforge, LTIMindtree, HCL Tech, and Mphasis also slipped up to 4%.The bearish sentiment stemmed from US artificial intelligence startup Anthropic, which unveiled a new tool designed specifically for corporate legal teams earlier this month. Anthrop
Union Minister Ashwini Vaishnaw on Saturday said the Cabinet has approved three railway multitracking projects worth approx Rs 18,509 crore and cleared an 11.56 kms Noida Metro extension project, in a push to expand rail capacity, reduce logistics costs and strengthen urban connectivity.The Cabinet Committee approved the railway projects spanning 12 districts across Delhi, Haryana, Maharashtra and Karnataka. The projects include Kasara–Manmad (3rd and 4th line), Delhi–Ambala (3rd and 4th line), and Ballari–Hosapete (3rd and 4th line) and are aimed at adding about 389 km to the network of Indian Railways.Also Read: Cabinet approves Rs 1.60 lakh crore rail, bridge and other projects in last meet at South BlockVaishnaw said Indian Railways is now the second largest cargo carrier in the
