Sunday, 7 September, 2025
False U.S. Tariff Rumor Triggers Sell-Off in Indian IT Stocks
Indian IT stocks—including Infosys, TCS, HCLTech, and Tech Mahindra—slumped following widespread circulation of unverified reports about U.S. tariffs on Indian software services. The Nifty IT index dropped as much as 2.5% intraday and closed down 1.33%. Mid-cap IT players like Persistent Systems, Mphasis, and Coforge fell up to 3%. Reuters and Bloomberg later debunked the tariff rumors, clarifying no official policy was announced.
Read full story at News Bytes