IT stocks gain on robust Infosys guidance

Shares of Cyient were trading 7 per cent up at Rs 487.40. It was followed by Mindtree (up 6.60 per cent) and Infosys (6.43 per cent). The Nifty IT index was trading 2 per cent up at 11,578.50 (at 1.01 pm).

Fundamnetal picks by Sharekhan: TCS, Infosys among top picsk in IT sector
Among the IT companies that have announced their results, HCL Tech is leading in growth terms followed by Tata Consultancy Services (TCS), Wipro, Infosys and Tech Mahindra.

 

IT STOCKS, INFOSYS, TCS, HCL TECH
Shares of Cyient were trading 7 per cent up at Rs 487.40. It was followed by Mindtree (up 6.60 per cent) and Infosys (6.43 per cent). The Nifty IT index was trading 2 per cent up at 11,578.50 (at 1.01 pm).

Shares of most of IT companies ended in green on Monday after Infosys, India’s second-largest information technology (IT) services firm forecast strong revenue growth of 11.5-13.5 per cent in constant currency (CC) terms in the current fiscal (FY17).

Shares of Cyient closed 6.06 per cent up at Rs 483.10. It was followed by Mindtree (up 5.70 per cent) and Infosys (5.50 per cent). The Nifty IT index settled 2.16 per cent up at 11,597.25.

Other IT majors such as HCL Technologies and Tech Mahindra closed higher by 1.83 per cent and 0.98 per cent at the same time.

On the other hand, TCS closed 0.15 per cent down at Rs 2522.40. Shares of TCS fell by over 3 per cent intraday after a US grand jury imposed a fine of $940 million on it and another Tata Group company Tata America International Corp in a trade secret lawsuit.

 

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