IT Stocks Rebound; HCL Tech, Tech Mahindra Lead

IT Stocks Rebound; HCL Tech, Tech Mahindra Lead

IT stocks were in the limelight today after remaining lacklustre in the past three sessions. The BSE IT index was up nearly 1 per cent index to be the biggest gainer among sectoral indices.

Among the IT stocks, HCL Tech, up 2.25 per cent, was the biggest gainer among Nifty stocks. Tech Mahindra was up 1.8 per cent while TCS gained 1.4 per cent.

IT stocks had underperformed the broader markets in the past few sessions on concerns over their Q4 earnings. TCS will kick off the Q4 earnings season with its results scheduled to come out on April 16 while Infosys will announce on April 24.

Many IT companies, including TCS, had warned about their Q4 results, citing cross-currency headwinds, weakness in specific verticals and client-specific issues.

Source: NDTV