IT firms not be affected from US federal cuts

Domestic information technology (IT) firms are expected to remain largely unaffected by US government spending cuts, analysts said, even as Accenture flagged concerns over delays and cancellations of federal contracts due to cost-cutting measures initiated by the Donald Trump administration.

On Friday, shares of IT firms, including Infosys, Tata Consultancy Services (TCS), Wipro, Tech Mahindra, and HCL Technologies, declined by as much as 3% during intra-day trade on the NSE.