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Context from Wikipedia on the organisations, people and places in this story.
Indian multinational technology company
Tech Mahindra is an Indian multinational information technology services and consulting company. It was formed in 1986 as a joint venture between Mahindra & Mahindra and BT Group. Part of the Mahindra Group, the company is headquartered in Pune and has its registered office in Mumbai.
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Indian multinational technology company
Infosys Limited is an Indian multinational technology company that offers information technology, business consulting, and outsourcing services. Founded in 1981 by seven engineers, the company is headquartered in Bengaluru and considered one of the Big Six Indian IT companies.
More on Wikipedia ↗Infosys and Wipro ADRs fell nearly 3% in US trading as investors assessed TCSs quarterly results and fresh US immigration restrictions. Concerns over technology spending, AI disruption and tighter employment-based immigration added pressure to Indian IT stocks.
Indian markets tumble as Sensex drops 785 points and Nifty falls below 22,350 amid rising crude prices, RBI's hawkish stance, and rupee weakness. IT stocks like TCS, Infosys, and HCLTech defy the trend ahead of Q2 earnings.
Indian equity indices declined after the opening bell on Thursday, October 8, amid the selloff cues from Asian markets, elevated oil prices, and rising US Treasury yields.