IT sectoral indices outperform benchmarks during Tuesday's trading session as tech-majors are set to announce their December 2020 (Q3FY21) result beginning with TCS on January 08, 2020. Investors sentiments are driven on hopes for better financial performance alongside Covid-19 vaccine rollout and economic recovery.
All stocks listed on Nifty IT index were trading in the green.
At around 2.14 pm, Nifty IT was performing at 25,699.75 above 589.70 points or 2.35%. The index has touched a record high of 25,738.80.
On the index, Naukri.com led the pack surging by over 9% followed by
L&T Infotech with over 5% gain. Mphasis was also among top performers advancing by nearly 5%.
Wipro surged by nearly 3% amid Rs9,500cr buyback subscription. Meanwhile, over 2% upside each was recorded in Coforge and Mindtree.
TCS zoomed by nearly 2% and has been trading near record-highs for the second straight day this week.
HCL Tech and
Infosys jumped by near 1% each. Tech Mahindra surged marginally.
TCS will be the first company in the sector to present its Q3 result compared to peers Infosys and Wipro. TCS has scheduled a board meeting on January 08, 2021, to approve and take on record the audited financial results of the Company under Indian Accounting Standards (Ind AS) for the quarter and nine months ending December 31, 2020. Also, the company will consider the declaration of a Third Interim Dividend to the equity shareholders.
Last week on Friday, Infosys informed exchanges that the company will announce results for the third quarter ended December 31, 2020, on Wednesday, January 13, 2021, around 3:45 p.m. Similarly, Wipro will also announce its Q3 corporate result on January 13, along with interim dividend for the current financial year.