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BSE IT index gains nearly 2 pct

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IT stocks posted decent gains on Wednesday, pushing the sectoral index up nearly 2 percent as robust profits from U.S. retailing giants boosted confidence in the corporate outlook in the world’s largest economy.

Mphasis topped the BSE IT Index with a 3.8 percent gain, followed by HCL Tech which rose 3.1 percent. Bigger players like TCS and Infosys posted gains of 2.1 percent and 1.92 percent respectively.

Only two stocks in the index – Patni and Tech Mahindra – ended in the red.

The sectoral index is up marginally this month. Would you invest in an IT counter at this stage?

Good day for technology counters

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Technology shares rose on Wednesday as Indian firms cheered robust results and guidance from U.S. peer Cognizant Technology Solutions.

Cognizant on Tuesday reported a profit that topped market estimates for the sixth straight quarter, helped by a surge in discretionary projects, and also raised its 2010 revenue outlook.

BSE IT Index drops, Infosys leads the decline

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INDIAThe BSE IT Index ended 2.68 percent lower on Tuesday weighed down by Infosys Technologies’ surprise 2.6 percent drop in April-June profit.

The country’s No. 2 outsourcer said before market hours its sales contribution from Europe fell to about 20 percent from nearly 25 percent a year ago and 23 percent in January-March.

Infosys rises on hopes of better results

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INDIA TECH

Shares in Infosys, India’s second-largest software exporter, rose as much as 1.4 percent to a 52-week high of 2,911.55 rupees, on expectations it would raise its dollar revenue forecast for the full year when it unveils results on Tuesday.

The scrip pared morning gains to close 0.8 percent higher at 2894 rupees with volumes of 0.1 million shares.

Infosys shares hit record high

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Shares in Infosys Technologies, India’s second-largest outsourcer, rose as much as nearly 2 percent to a record high of 2,882 rupees on Friday on optimism about quarterly earnings next week.

InfosysThe company unveils its quarterly earnings on June 13. Its earnings are often dubbed as a trendsetter for sectoral peers.

Good day for IT stocks

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INDIA
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.

Strengthening rupee hurts IT counters

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- Strengthening rupee hurts IT counters Hurt by an appreciating rupee, the BSE IT index slipped 1.7 percent on Monday and ended as the worst sectoral performer among indices. The benchmark Sensex however ended 66 points higher on hopes of good earnings. Top sectoral losers NIIT and Mphasis ended down 3.7 percent and nearly 3 percent respectively. Bigger players too had a bad day, with stocks like Infosys and TCS slipping 2.2 percent and 1.7 percent respectively. D H Pai Panandiker, president of RPG Foundation, is of the view that the rupee will harden further to 42 versus the dollar if the Reserve Bank does not intervene. http://in.reuters.com/article/economicNews/idINIndia-47287920100329 The BSE IT index has gained 4.7 percent this month. In the current scenario, will you buy or sell stocks in this sector?

callcentre1-222x300Hurt by an appreciating rupee, the BSE IT index slipped 1.7 percent on Monday and ended as the worst sectoral performer among indices. The benchmark Sensex however ended 66 points higher on hopes of good earnings.

Top sectoral losers NIIT and Mphasis ended down 3.7 percent and nearly 3 percent respectively.

Good day for IT stocks

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The BSE IT index gained over 1 percent on Monday and ended as the top sectoral gainer in a Mumbai market that rose 45 points.

Shares in Infosys gained 1.5 percent to 2,568 rupees and was the top contributor to the benchmarks rise.

BSE IT Index rises over 2 pct

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INDIA

Export-focused software stocks did well on Tuesday, helping boost the BSE IT Index 2.5 percent to its second straight day of gains.

The broader market ended 0.6 percent up with financials being among the losers.

Sensex heavyweights Infosys, Tata Consultancy Services and Wipro rose 2.9 percent, 1.4 percent and 2.4 percent respectively.

HCL Tech drops over 5 pct

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Shares in Software services firm HCL Technologies dropped on Monday as the company missed forecasts with quarterly profit dragged down a fifth by declining other income, forex losses and higher costs.

The counter ended 5.6 percent lower at 361.15 rupees with volumes of 0.3 million shares.

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