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INFY - Infosys News Story

₹1137.5 11.6  1.0%

Last Trade - 11:29am

Sector
Technology
Size
Large Cap
Market Cap £50.82bn
Enterprise Value £48.62bn
Revenue £9.96bn
Position in Universe 5th / 3016

BUZZ-Indian IT sector hits record high on strong outlook from HCL Technologies

Mon 14th September, 2020 6:51am
(Updates)
    ** India's IT services subindex on the NSE  .NIFTYIT  rises
as much as 3.4% to hit a record high of 19,257 points, after
strong Q2 outlook from HCL Technologies  .HCLT.NS  lifts
sentiment across the sector
    ** IT stocks top boost to broader market  .NSEI , which was
up 0.72% by 0520 GMT
    ** Shares of HCL Technologies  HCLT.NS  jump as much as
7.6%, Infosys  INFY.NS  gains 3.1%, Tata Consultancy Services
 TCS.NS  rises 2.77% and Tech Mahindra  TEML.NS  advances 3%
    ** HCLT hits a record high of 776.65 rupees in session, top
pct gainer on Nifty 50 index  .NSEI 
    ** Co says it expects revenue, operating margin for
September quarter to be meaningfully better than top end of
guidance given in July  urn:newsml:reuters.com:*:nFWN2GA00H
    ** HCL expects Q2 revenue growth of more than 3.5% Q-O-Q in 
constant currency 
    ** After the initial slowdown in orders, the order book
outlook has become very strong for most IT companies, Elara
Capital analyst Harendra Kumar says
    ** Indian IT services firms depend heavily on revenue from
corporate clients in Europe and North America for their revenue

 (Reporting by Derek Francis in Bengaluru)
 ((Chandini.M@thomsonreuters.com; 910867497919;))
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