IT stocks rally on the back of huge deal wins by Infosys, Wipro

BENGALURU: The Information technology (IT) stocks hogged the limelight on the bourses on Wednesday after IT majors Infosys and Wipro bagged mega multi-year contracts from Germany’s Daimler AG and Metro AG, respectively.

The S&P BSE IT index surged 2.34 per cent. Among individual stocks, Wipro’s stock on BSE touched a 20 year high at Rs 385.4, a 5.9 per cent increase from the previous close of Rs 364. The IT service provider’s shares had previously touched this price during 2000s.