TCS shares hit a new record high as investors bet on tech stocks

Business

oi-Sunil

By Sunil Fernandes

Updated: Wednesday, July 23, 2014, 12:00 [IST]

Shares in tech stocks were in the limelight today as investors bet heavily on tech stocks. TCS hit a record high of Rs 2583 on the National Stock Exchange. The stock was last trading at Rs 2574 on the
NSE.

Infosys joined TCS higher after reports that the IT services major said it has secured a multi-year deal from automaker Daimler AG for the management of infrastructure services and data centres.

Financial details of the deal were not revealed.

Wipro and HCL Tech were also higher as investors continue to lay their bets on technology stocks, on hopes of a recovery in the US markets. The results of TCS and Infosys have beaten market expectations, though the Infosys stock is still some way from touching its 52-week high of Rs 3849 hit earlier this year in March. The stock was last trading at Rs 3309 on the National Stock Exchange.

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