IT Giant TCS Back In Action, Stock Up By Over 3%

IT giant in the country, Tata Consultancy Services was the eye-catcher in Tuesday’s trading session. TCS has pushed Nifty and Sensex to their record opening high. It was the most active stock by value in the morning hour on Tuesday.

TCS was reeling under pressure for past two months. However, it seems TCS has pared its losses and moved northwards with fresh upsurge.

The stock was trading higher by 3.12% at Rs 2685.3 per share as of 0936 hours on Tuesday. It attracted huge trading volume of 5,58,637 shares and traded value of Rs 150.05 Cr. For past two weeks, the stock has witnessed around 70% deliverable quantity to traded quantity reflecting strong investor’s sentiments over the long-term growth prospects of the stock.

IT stocks are also seen to be relieved from the global political pressures. Tata Elxsi was trading higher by close to 4% at Rs 1545.8 per share, HCL Tech was trading higher by 2.3% at Rs 878.4 per share. Nifty IT index was trading higher by 1.76% at 10848 level.

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