 "IT firms")
The information technology (IT) sector has put brakes on new investment to conserve cash but has done so even as share buybacks and dividends have become their preferred route to keep the stock markets happy.
As a result, the country’s top IT companies have reported a decline in their assets for the first time in many years.
The combined assets of the top five —Tata Consultancy Services (TCS), Infosys Technologies, Wipro, HCL Technologies and Tech Mahindra were down one per cent to Rs 2,774 billion at the end of 2017-18, from Rs 2,801 bn a year before.
In comparison, sectoral
