IT shares in focus; TCS, Tata Elxsi scale fresh record highs

Shares of information technology (IT) companies were in focus at the bourses on Wednesday with both Tata Group stocks – Tata Consultancy Services (TCS) and Tata Elxsi – hitting their respective new highs on the National Stock Exchange (NSE).

At 10:20 am, the Nifty IT index — the top gainer among sectoral indices — was up 2.4 per cent, as compared to 0.37 per cent rise in the Nifty50 index. The IT index hit an intra-day high of 26,758 points, quoting close to its record high of 27,177 points, touched on January 14, 2021.

Wipro, Mindtree, Mphasis and Coforge from the Nifty IT index were up in the range of 3 per cent to 5 per cent, while TCS, Larsen & Toubro Infotech, Tech Mahindra, Infosys and HCL Technologies gained between 1 per cent and 2 per cent on the NSE.