Tag: bse it index

Tata Consultancy Services, Infosys, Wipro, and HCL Technologies, etc., India’s leading information technology (IT) services companies, are the flavor of the season on D-Street. The IT industry valuation premium over the broader market is now at its highest level in more than a decade as investors continue to accumulate the shares of top IT companies and go underweight on at-risk sectors, such as banking, oil and gas, metals, and even fast-moving consumer goods companies (FMCG). The BSE IT Index is currently trading at a trailing price-to-earnings (P/E) multiple of 34.3x — nearly 29 percent higher than the benchmark BSE Sensex P/E multiple of 26.6x. In contrast, till six months ago, the IT index was trading at a discount to the benchmark index. This is the first time in five years that the IT index valuations are higher than the benchmark indexes. Read more

The Indian markets continue to trade on a firm note well supported by IT stocks following a good Q2 show today(14th Oct.2021). The BSE Sensex so far has registered a new high at 61,159 and was up 352 points at 61,089. The NSE Nifty touched a new summit at 18,295 and was up 111 points at 18,273. The BSE IT index has pared considerable gains but is still up 1.2 percent at 35,217. The index had touched a high of 35,794. The BSE Realty, Metal, and Capital Goods indices are the other major gainers, up 1.3-2.7 percent, each. Infosys which touched a high of Rs 1,784, was up 1.4 percent at Rs 1,733. Wipro touched a new high at Rs 723.65 on the BSE and continues to trade firm, at Rs 705, up 4.8 percent. Tech Mahindra has gained 1.4 percent, while HCL Technologies has slipped into the red, down 0.8 percent at Rs 1,255 ahead of its results. Read more

Today (11th June 2021)Shares of information technology (IT) companies were in demand on the bourses with Wipro and Tech Mahindra hitting all-time highs, while Tata Consultancy Services (TCS) and Infosys were quoting close to their respective record highs on the BSE. Besides Wipro and Tech Mahindra, a total of 10 stocks including Mastek, Mindtree, Happiest Minds Technologies, Mphasis, and Coforge too hit their new highs in Friday's intra-day deals.TCS, meanwhile, gained 3 percent to quote at Rs 3,309, while Infosys was up 2 percent at Rs 1,451.55. TCS had hit a record high of Rs 3,358 on April 9, 2021, and Infosys had touched a high of Rs 1,480 on April 12. Among other individual stocks, Tech Mahindra hit a record high of Rs 1,082, up 2 percent on the BSE, surpassing its earlier high of Rs 1,081.35 touched on January 11, 2021. In the past one week, the stock has gained 6 percent. Read more