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Infy, TCS, Wipro, HCL stocks hit 52-week high on Infy performance
The stocks of software majors Infosys hit a 52-week high of Rs 3665.50 on the National Stock Exchange, while HCL Tech hit a 52-week high of Rs 1330.90 today.
India's largest software services provider Tata Consultancy services also hit a 52-week high of Rs 2344.55 on the National Stock Exchange, while Wipro hit a new record high of Rs 561.20.
On Friday Software and IT major Infosys, reported profit after tax that beat analysts and street estimates, thanks to an expansion in margins.
The company reported a net profit of Rs 2875 crores for FY Q3 2014, beating street estimates which were expecting net profits at around Rs 2700 crores. Revenues came in at Rs 13,026 crores, as against Rs 10,424 crores in the corresponding period of last year. Also read 5 takeaways from the Infosys results
Analysts have now upgraded the stock to "buy" and have set higher targets for the same, following a splendid set of quarterly results. The management also sounded upbeat on guidance and performance going ahead. This has led to a mad scramble for IT Stocks.
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