Out of 10 Nifty IT index stocks, 9 scrips were trading with gains with L&T Infotech, Coforge and Infosys too at fresh 52-week highs. IT stocks outperformed the equity benchmarks last week where BSE Sensex and Nifty 50 gained
Nifty IT index was ruling 1.05 per cent higher hitting a fresh 52-week high of 20,032.20 led by gains in Wipro, Tech Mahindra, Mphasis, HCL Technologies and TCS. The IT index surpassed its previous high of 20,014.65.
India's third largest IT services exporter Wipro will give a salary hike in an average range of 9.5% for its employees based in India and it will be 2% for those located in the developed markets effective June 1, 2016.