iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Nifty IT skyrockets over 750 pts ahead of Q3 earnings; Tech Mahindra, TCS, Coforge drive the index

9 Jan 2023 , 10:38 AM

On Tuesday trading session, Nifty IT was in the fast lane as corporate earnings season of major technology companies lift the investors sentiments for this sector. The positive trigger for the market now is that IT industries is set to post another quarter of strong growth despite cost pressure.

At around 10:40 AM, Nifty IT was trading at 28,714.85 up by 758.40 points or 2.71%. The index has tumbled to an intraday low of 28,134.05 and has touched an intraday high of 28,728.40 during early trading hours.

In terms of gains, the index was lifted by Tech Mahindra being the top performer surging over 3.3% at Rs1,018.60 per share. Tech giant Coforge followed with 3.2% gain, while TCS zoomed over 3% to support the bullish sector. Meanwhile, as per the analysts, TCS could post 1.4% growth in constant currency in December 2022 quarter, on a sequential basis. Typical Q3 seasonality on account of holidays could impact growth.

Heavyweights LTI Mindtree and Persistent Systems surged by 2.9% each, while HCL Tech soared around 2.4%.

Wipro was 2.38% on the upside at Rs391.05 per share followed by LTTS advancing by 2.36% at Rs3,710 per share.

Infosys and Mphasis were trading 2.2% higher each to follow the upside trend.

Furthermore, tech giant peers Infosys, HCL Tech and Wipro are set to announce their Q3 result this week.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • BSE
  • Coforge share price
  • corporate result
  • HCL tech share price
  • Infosys Q3 result
  • infosys share price
  • IT corporate result
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.