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Indian IT stocks, including Infosys, Wipro, and TCS, experienced a decline following Accenture's Q3 results, despite the latter exceeding revenue expectations. Investor concerns arose regarding future demand trends and overall sector sentiment, overshadowing positive AI-driven service growth. The sell-off was also influenced by flagged headwinds from a sluggish U.S. federal contracting environment.
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In the Nifty 200 pack, 10 stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on June 20, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
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News and Media
Patil Automation, a Pune-based automation and robotics solutions provider, is set to debut on the NSE SME platform following a highly successful IPO that was oversubscribed by 101.42 times. The IPO, consisting of a fresh issue of 58 lakh shares, saw strong interest from various investor categories, with proceeds earmarked for a new manufacturing facility and debt repayment.
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News and Media
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