Shares of information technology (IT) companies were under pressure on Wednesday with sector giant Tata Consultancy Services (TCS) and Wipro hitting their respective 52-week lows on the National Stock Exchange (NSE) in the early morning trade on concerns over potential impact from COVID-19 (Coronavirus).

Nifty IT index, the top loser among the key sectoral indices, too hit its 52-week low of 14,356, down 3.4 per cent on the NSE. The index was at its lowest level since January 15, 2019, when it had touched 14,262 points in the intra-day trade.

Microsoft chief executive Satya Nadella on Monday urged Indian business leaders to build technology capabilities that are inclusive in nature.

Beginning his three-day visit to India, Nadella was addressing Microsoft's Future Decoded CEO Summit here.

Software firm TCS and realty major DLF have sought government nod to set up special economic zones (SEZ) for IT sector in Haryana and Uttar Pradesh.

These proposals will be taken up by the Board of Approval, the highest decision-making body for SEZ, in its meeting on February 26 here. The inter-ministerial body is chaired by the commerce secretary.

Shares of information technology (I-T) companies surged on Friday, buoyed by a fall in Indian Rupee against the US dollar after a key Iranian and Iraqi military personnel were killed by a US airstrike that sent the oil prices soaring.

Iranian Major-General Qassem Soleimani, head of the elite Quds Force, and Iraqi militia commander Abu Mahdi al-Muhandis were killed early on Friday in an air strike on their convoy at Baghdad airport, Reuters reported.

Shares of information technology (IT) services were trading in the red in the early trade on Tuesday as the rupee hit around one month-high against the US dollar. The domestic currency opened at 70.96 against Monday's close of 71.04.

At 09:51 am, the Nifty IT index was trading over a per cent lower at 14,977 levels with all the 10 constituents in the negative territory.

Under the terms of the agreement, TCS will acquire certain assets at the GM Technical Center-India (GMTC-I), Bengaluru, and will partner with GM, supporting its global vehicle programmes with engineering design services over the next 5 years.

According to a company statement, the expanded partnership aims to develop modern, intelligent and automated solutions for Posten. This move will accelerate Posten’s growth by enabling adoption of agile working methods, harmonising IT services and driving automation.