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IT counters post decent gains

July 6, 2010

The BSE IT Index gained 1.7 percent on Tuesday as expectations of revenue growth for the June quarter pushed up export-focused outsourcing firms.

Bombay Stock ExchangeAll stocks in the IT index, except Mphasis, closed in positive territory, with Rolta India leading the list of gainers with a jump of 4.1 percent.

Biggies Tata Consultancy Services and Infosys rose 2.5 percent and 1.6 percent respectively, helping the Sensex in its 173-points rise.

Kotak Securities has said it expects 5.2 – 6.7 percent constant currency revenue growth for the tier-1 IT companies for the June quarter.

Do you think IT stocks will continue to rise from here?

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