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BSE IT index gains 3.15 pct
IT stocks posted smart gains on Wednesday as IT cos’ stocks gained on expectations of strong quarterly earnings.
Oracle Financial Services Software ended 4.6 percent higher as the top gainer in the index.
Infosys Technologies, which will unveil its results on Friday, gained 2.5 percent. Tata Consultancy Services and Wipro gained 4.6 percent and 4.5 percent respectively.
Top IT services firms are set to ring in robust quarterly profits aided by strong demand from western clients, but a rising rupee is seen crimping profit margins in the second half.
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Reliance Industries shares gain more than 1 pct
Shares in Reliance Industries, India’s top listed firm, gained 1.1 percent on Tuesday, helping the benchmark index close marginally up.
The stock, which has the highest weight on the main index, closed at 1,026 rupees.
IT counters post decent gains
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.
All 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.
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