June 22, 2017 / 9:48 AM / a month ago

BUZZ-IT stocks pare gains after industry body's export revenue growth forecast

1 Min Read

** IT stocks pare earlier gains after National Association of Software and Services Companies (NASSCOM) projected export revenue growth of 7 to 8 pct for FY2018

** Forecast in line with 7.6 pct growth in the last fiscal year

** NASSCOM's guidance for revenue growth was 10 to 11 pct for the domestic market in FY2018

** IT sector faces headwinds in the U.S. market over fears of tighter visa rules

** Nifty IT index down 0.08 pct after earlier gaining as much as 1.3 pct

** Infosys Ltd down 0.4 pct, Tata Elxsi Ltd up 0.6 pct; both stocks had earlier gained as much as 2.7 pct

** Up to Wednesday's close, Nifty IT index had fallen 11 pct in 12 months

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