Cyient, TCS slip over 0.5% amid report Boeing 737 Max crisis to hit IT cos

According to the report, firms such as TCS, HCL Tech, Infosys, Cyient, and L&T Technology Services have direct exposure to Boeing or its suppliers' ecosystem

Shares of major information technology (IT) companies were trading lower in the early trade on Friday after a report said IT outsourcing contracts of more than $1 billion currently executed by Indian companies are at risk of termination because Boeing has halted the production of its flagship Boeing 737 Max jets with effect from January.

At 09:30 am, Tata Consultancy Services (TCS) was trading 0.6 per cent lower at Rs 2,188 apiece on the BSE while Cyient slipped nearly a per cent to Rs 405. HCL Technologies was trading flat with negative bias at Rs 560, down 0.14 per cent and L&T