Web Exclusive

Nifty IT index, Infosys, TCS at record high; charts signal more upside

Edelweiss Securities says that the robust tech up-cycle would benefit firms like HCL Technologies, Infosys, TCS, and Tech Mahindra

Topics
TCS stock | Share buybacks | Buzzing stocks

Avdhut Bagkar  |  Mumbai 

Shares of information technology (IT) companies rallied at the bourses on Friday, with the Nifty IT index hitting a record high of 23,408, up 2 per cent, in an otherwise subdued markets. In comparison, the benchmark Nifty50 index was trading 30 points lower at 13,710, at 11:40 AM.

Individually, sector giants Tata Consultancy Services (TCS) and Infosys hit their respective record highs. Besides, Coforge, Larsen & Toubro Infotech, HCL Technologies, Wipro and Tech Mahindra were up in the range of 1 per cent to 3 per cent. The IT stocks outperformed the benchmarks after Ireland-based ...

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, December 18 2020. 12:09 IST
RECOMMENDED FOR YOU
.