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Last Updated : Feb 06, 2019 10:26 AM IST | Source: Moneycontrol.com

Tech Mahindra, Infosys & Wipro clock fresh 52-week highs; Nifty IT up 2%

IT stocks are witnessing a spillover rally from Tech Mahindra, whose stock jumped a little over 6 percent on the back of good results.

Moneycontrol News @moneycontrolcom

Shares of information technology (IT) stocks soared in trade on Wednesday morning.

Tech Mahindra, Infosys and Wipro clocked fresh 52-week highs. The Nifty IT index rose nearly 2 percent.

Infibeam, Mindtree and HCL Technologies rose 1-2 percent.

IT stocks are witnessing a spillover rally from Tech Mahindra, whose stock jumped a little over 6 percent on the back of good results.

The IT major reported a 13 percent sequential rise in Q3 profit at Rs 1,203 crore. The company reported 27.5 percent year-on-year (YoY) rise in consolidated net profit.

The revenue for the quarter rose 3.6 percent against the September quarter to Rs 8,944 crore.

In constant currency terms, revenue was up 4.3 percent sequentially. Revenue in US dollar terms was at $1,260.8 million, up 4.3 percent YoY and up 3.5 percent QoQ.
First Published on Feb 6, 2019 10:26 am
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