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    Information technology stocks likely to remain under pressure in near-term amid global headwinds and market volatility: Analysts

    Information technology stocks are likely to remain under pressure in the near term amid headwinds emanating from the worsening economic situation in key global markets and financial market volatility, according to analysts. While the country’s largest software exporter TCS reported a 5.2 per cent rise in June’s quarter net profit on Friday, kicking off the latest earnings cycle, IT shares have been sliding, with the BSE Information Technology index tumbling nearly 24 per cent so far this year. Cross-currency headwinds and large-scale talent churn resulting in higher wage hikes could also add to the challenges, especially in terms of the impact on operating margins, analysts opined. Though it is early…

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    Shares to get: Sanjiv Bhasin picks Mphasis, L&T Tech, Tech Mahindra for gains today Check out why

    Stocks to buy: Marketplace specialist and IIFL Securities Director Sanjeev Bhasin on Thursday stated that these days is the day of automobiles and technologies. He said that it is a basic equation, if sell-off is coming in commodities globally like cotton, aluminum, metal and oil, then car and IT will witness the very best sales ever. “This is the time to be in automobile and IT,” he extra. Maruti, Ashok Leyland, and M&M are his top rated picks, he more said. He spoke to Zee Company Controlling Director and Current market Expert Anil Singhvi in the well-liked Tv display ‘Bhasin Ke Hasin Share’, in which, he picked three stocks for…