Nifty IT Outlier In Trade; Mphasis, Coforge, Wipro & Mindtree Hit New 52-Week High

In trade today on May 27, 2021 at the time of writing this copy indices are trading firm with a minor upside on the Nifty of 12 points and broader indices outperforming their headline peer with Nifty Midcap 100 trading higher by 0.35 percent.

Among the Nifty sector indices, the highest drag is on the realty space of close to 0.6 percent, while the IT sector is the outlier with gains of over 1 percent.

Individually some of the stocks from the pack have even hit their new 52-week high including Mphasis, Mindtree, Wipro and Coforge. While for other constituents of the IT pack including TCS, Infosys, L&T Infotech, Tech Mahindra and HCL Tech among others the gains are in the range of 0.4 percent to 1.5 percent.

Mindtree at the company's analysts meet was optimistic in delivering both on the growth and profitability parameter. It maintained its guidance of double-digit industry-leading growth and Ebitda margin of more than 20 per cent, despite additional investments.

Oracle Financial Services is the only stock within the space trading in the red.

For IT stocks such as Coforge, Infosys there is held a very bullish outlook.after the management reiterated its 4x4x4 strategy, with a focus on four industry groups, four service lines, and four geographies.

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