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Nifty IT Hits New High After TCS CEO Comments'
Nifty IT index in intra-day trade on September 21, 2020 despite the volatility in the benchmark index hit a record high of 20327.90, with gains of over 2.5%.
This is after positive comments from TCS CEO on the growth outlook for the sector in an exclusive interview with CNBC TV 18. He told the channel that industry is at the cusp of a significant phase of growth.
Experts are of the view that given the rapid adoption of digitalisation amid the pandemic across the board, IT industry in India shall be the first to recover from the Covid 19 led slowdown.
Among individual stocks from the IT space, HCL hit a fresh high with gains of over 4.7%, Infosys up almost 3%, Tech Mahindra, Wipro and TCS also up in the range of 1-2%. The only stock dragging the index down has been Mphasis.
Meanwhile, another software major Nucleus Software hit a record high as its prospects seem bright with new orders bagged in the quarter. The company also unveiled the latest version of its award winning lending solution - FinnOne Neo 5.0.
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