IT stocks were in focus today as TCS, Wipro, Infosys and Mindtree shares hit fresh 52-week highs on Monday. BSE Information Technology index rose 3.32 per cent to climb up to a new record high. During the second quarter of FY21, BSE IT index surged 31.7 per cent, significantly outperforming BSE Sensex, which managed to gain 9.2 per cent. Corporate earnings for the July-September quarter will kick start from Wednesday as TCS is scheduled to announce its second-quarter results. Analysts expect Q2 to be a strong quarter for Indian IT companies as all the companies successfully transitioned to ‘work from home’ (WFH) model leading to business continuity and significant cost savings.
From March lows of 10,937.37, BSE IT index has rallied over 90 per cent. In today’s session, TCS shares