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Ratings of TCS, Infosys and Wipro cut by Macquarie

We all know that the top three software exporters in India are Tata Consultancy Services, Infosys and Wipro. These companies are expected to do well in their business, but Macquarie had just cut the ratings of these groups to ‘underperform’.

The company had also removed TCS from its Top-10 list and replaced it with ICICI Bank. With regards to Infosys, the company had given such rating due to the delay of its plan of recruiting 28,000 new recruits. This plan was rescheduled in mid 2013. This delay is due to the slowdown that Infosys is facing today.

This slowdown is not only felt by Infosys, but also with other companies in the country. The company had also added some new companies in their like and to name a few we have, Bharat Electricals, Hindustan Petroleum Corp, Asian Paints, Wockhardt.

Though it had added some companies on its portfolio, it had also removed some like Housing Development Finance Corp. and Mindtree.

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