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Shares of information technology (IT) companies were in focus at the bourses on Wednesday with both Tata Group stocks - Tata Consultancy Services (TCS) and Tata Elxsi – hitting their respective new highs on the National Stock Exchange (NSE). At 10:20 am, the Nifty IT index the top gainer among sectoral indices was up 2.4 per cent, as compared to 0.37 per cent rise in the Nifty50 index. The IT index hit an intra-day high of 26,758 points, quoting close to its record high of 27,177 points, touched on January 14, 2021. Wipro, Mindtree, Mphasis and Coforge from the Nifty IT index were up in the range of 3 per cent to 5 per cent, while TCS, Larsen & Toubro Infotech, Tech Mahindra, Infosys and HCL Technologies gained between 1 per cent and 2 per cent on the NSE.
Infosys Q3 preview: Lead by the ramp-up of Vanguard deal, incremental revenue contribution from acquisitions and strong growth momentum in key verticals, IT bellwether Infosys may post a 9-10 per cent year-on-year (YoY) growth in its revenue (in rupee terms) for the quarter ended December 2020 (Q3FY21). The revenue could rise between 2.5-3.5 per cent quarter-on-quarter (QoQ) in constant currency (cc) terms and 3-4 per cent in dollar revenue terms. The Bengaluru-based firm, which is slated to release its Q3 numbers on Wednesday, January 13, may post record deal TCVs for the quarter due to the Daimler deal. The expectations of such a strong performance are visible in the stock price movement. Shares of Infosys have risen 24.55 per cent for the three months ended December 2020 and 9.58 per cent year-to-date (YTD), data available with ACE equity showed. This is against a 21.55 per cent rise in Nifty IT index and 24.30 per cent jump in Nifty 50 during the October-December quarter.
Shares of information technology (IT) companies continued their upward march in Monday s session, with Nifty IT index rising 2 per cent to scale a fresh record high on the National Stock Exchange (NSE), after sector giant Tata Consultancy Services (TCS) posted better-than-expected results for the quarter ended December 2020 (Q3FY21). At 09:59 am, Nifty IT index, the top gainer among sectoral indices, was up 1.8 per cent at 26,643 as compared to a 0.87-per cent rise in the Nifty50 index at 14,472. The IT index hit a fresh record high of 26,808 in intra-day trade. In the past two months, it has outperformed the market by surging 26 per cent, as compared to a 14-per cent gain in the benchmark index.
D-Street Buzz: Over 450 stocks hit new 52-week high on BSE; auto & IT stocks outshine
Over 470 stocks hit new 52-week high on BSE including names like Tata Motors, Indiabulls Ventures, HCL Tech, Infosys, Wipro, Tata Elxsi, Ashok Leyland, Varun Beverages, Godrej Consumer, Maruti Suzuki, and TCS among others. January 11, 2021 / 02:41 PM IST
The Indian stock market continues trading in the green with Sensex up 371.46 points or 0.76 percent at 49153.97, and the Nifty jumping 101.70 points or 0.71 percent at 14449.
Among the sectors, the IT index jumped over 3 percent led by HCL Tech, Wipro and Infosys which jumped 4-5 percent each followed by Mphasis, TCS and Tech Mahindra.