LIC loses ₹38,000 crore, MFs 63,000 crore in Feb so far as IT stocks crash on AI fear

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Nifty IT index has plunged 21% in February so far, and is poised for its worst monthly performance in nearly 23 years. This has also weighed on the performance of the Indian stock market’s benchmark index, as the IT companies command over 10% weightage. IT stocks witnessed a breather on Wednesday, February 25, in an…

Coforge to acquire US-based Encora in $2.35-bn all-stock deal, board approves $550-mn fundraise

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The acquisition will be executed through a share swap, under which Coforge will issue 93.8 million equity shares at Rs 1,815.91 apiece, implying a non-cash consideration of about Rs 17,032 crore.   Encora shareholders will hold about 21.25 percent of Coforge’s post-issue equity capital. “Coforge’s acquisition of Encora will create a $2.5 billion Tech Services…