IT was the best performing sector in 2018, with the Nifty IT index surging about 24 per cent during the year, outpacing the 3 per cent rise in the Nifty 50.
With the exception of Wipro and HCL Technologies, the other three sector leaders Tata Consultancy Services (TCS), Infosys and Tech Mahindra gained 27-43 per cent returns last year. What had helped the sector last year was a supporting environment in the US, be it tax cuts or fiscal spending, coupled with a weak rupee. “The IT sector’s strong performance in 2018 was predicated on robust earnings growth aided ...
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