TCS, HCL Tech hit 52-week as Infy delivers

Stocks

oi-Sunil

By Sunil Fernandes

Updated: Friday, July 12, 2013, 11:56 [IST]

Shares in India's largest technology firm Tata Consultancy Services and HCL Tech hit 52-week highs after Infosys reported better then expected Q4 numbers.

Shares in TCS rallied almost 3 per cent, hitting a 52-week high of Rs 1624 on the National Stock Exchange. Shares in HCL Tech on the other hand hit a 52-week high of Rs 862 on the NSE.

The trigger for these stocks were the unchanged revenue guidance by Infosys which gave a dollar revenue guidance of 7-10 per cent.

The company reported a PAT of Rs 2374 crores, which also was marginally better then expectations. Analysts see better prospects for the Industry going ahead given the sharp recovery in the US economy., though the new US Immigration Bill, if passed could see costs escalating for Indian software companies.

GoodReturns.in