A maturing market amid the mayhem
Good day for IT stocks
The BSE IT Index ended 3.09 percent higher on Tuesday, mainly led by IT bellwether Infosys Technologies which rose 3.6 pct.
The main index however closed 0.17 percent lower, weighed down by weakness in global markets.
Outsourcer Infosys forecast stronger-than-expected annual revenue growth of 16-18 percent, noting that a pick-up in global technology spending was improving demand for outsourcing but said margins would be hit by a rising rupee.
TCS, India’s top software exporter, surged 2.8 pct while rival Wipro closed 2.4 percent higher.
Do you think IT stocks currently make for good investment, with signs of a pick-up in global IT demand?