Why Indian IT company shares collapse in April

In recent days we felt a great lose on IT sector share trade. Every one was selling out their shares before the IT companies quarterly report is going to submit. Market eyes seen that it is a reflection of American trade in India.

Wipro was the huge loser. They calculated the lose in billions of dollars. About 11.2% share value slashed down. Wipro is the 3rd biggest IT company in India.

Wipro had given offers to shareholders including getting shares in the IT business, the listed company, in exchange for the value of their non-IT holdings or converting their holdings into shares in the privately held Wipro Enterprises Limited, the non-IT business.
Those options will no longer be available to anyone buying Wipro shares from Tuesday, with the record date, or the date for executing the options, set for April 11. It takes two trading days for a purchase to be reflected in a shareholders 'demat' or electronic account.
Wipro's IT business accounted for about 94 percent of the combined company's revenue.

 

 WIPR.NS on National Stock Exchange of India

393.50INR
2:48pm IST

 

Price Change (% chg)

Rs-13.50 (-3.32%)

 

Prev Close
Rs407.00

 

Open
Rs407.00

 

Day's High
Rs418.00

 

Day's Low
Rs390.25

 

Volume
6,123,455

 

Avg. Vol
1,766,755

 

52-wk High
Rs463.00

 

52-wk Low
Rs295.00

 

Same scenario repeated in the case of Infosys, TCS, HCL, etc. But they are minimum losers in the game.

Intervention of American traders in Indian market couldn't stop the fall of indian market.

Every pulse in share market is just a hopeless behavior of share holders on upcoming company strategy reports. One of the rating company rated Indian companies into 2. In that 300 has good score where as 600 companies gone down in that report may reflected sen sex. 

 

Any how IT companies suffer a lot while they prepare quarterly reports. Now none of the IT companies winning any good earning billion dollar projects from outside country. How company accounts it in report may show more fluctuations in share market in coming days. All are eager about real report; story of Sathyam computers never forget by traders in such a condition.