IT shares trade firm; HCL Tech, Tech Mahindra up 3%
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Shares of information technologies (IT) companies were trading firm on the bourses, gaining upto 4% each, on the back of positive corporate announcements and weakening rupee.
HCL Technologies, Tech Mahindra, Tata Consultancy Services (TCS), Persistent Systems and Cyient rose 3%-4% each, while Infosys, Wipro, Hexaware Technologies, Polaris Consulting & Services and MindTree gained 1%-2% each on the National Stock Exchange (NSE).
At 1311 hours, CNX IT index was the largest gainer among sectoral indices, gaining 1.8% compared to sub-1% gain in the benchmark CNX Nifty.
Tech Mahindra spurted by 3% to Rs 640 after the company said Ontario Ministry of Energy and the company invested in innovative Smart Grid solution powered by analytics.
Tech Mahindra announced that it will build an Intelligent Electric Vehicle Charging System (IEVCS) designed to help build Ontario's clean energy future. The project, sponsored by the Ministry of Energy and funded in part through the Ontario Smart Grid Fund initiative, will analyze the effects of electric vehicle charging on transformers by creating a real-time transformer monitoring and analytics solution.
TCS gained 2% at Rs 2,563 after its client, Euroclear Finland launched platform, Infinity powered by TCS BaNCS for market infrastructure.
Infinity is a multi-year program powered by TCS BaNCS for Market Infrastructure and is a key component of Euroclear Finland's outsourcing its securities settlement processing to TARGET2Securities (T2S) as part of the European Central Bank's fourth migration wave in February 2017, TCS said in a statement.
Meanwhile, the rupee depreciated by 11 paise to 63.78 against the US dollar at the Interbank Foreign Exchange in early trade today as the American currency appreciated in wake of strong economic data, the PTI report suggests.
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Fintech firm BharatPe on Tuesday said it has elevated its interim CEO and chief financial officer Nalin Negi as full-time chief executive officer.
Negi was given charge of interim CEO in January 2023 after then CEO Suhail Sameer stepped down from the post.
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Two individuals have been arrested by the Mumbai Crime Branch late on Monday night for allegedly firing shots outside the residence of Bollywood actor Salman Khan in Bandra West on April 14, several media outlets reported.
"Both individuals, who fled Mumbai following the shooting, were apprehended in Bhuj, Gujarat," stated officials, as per news agency ANI. The Mumbai police confirmed that the detained individuals, identified as Vicky Gupta and Sagar Pal from Champaran, Bihar, will be transported to Mumbai for further interrogation.
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Tata Consultancy Services has topped the LinkedIn's latest list of top companies to work for in India, followed by Accenture and Cognizant in the second and third place respectively.
Professional networking platform LinkedIn on Tuesday released the 2024 Top Companies list for India wherein IT companies bagged the top three ranks, while financial services firms dominated the list with 9 out of 25 companies from this sector.
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Shares of Vodafone Idea dropped as much as 3.95 per cent to hit an intraday low of Rs 12.64 per share. The drop comes in reaction to the follow-on public offering (FPO) anchor book, which will open today.
Vodafone Idea shares have plunged 25.19 per cent year-to-date (YTD), but have surged 7 per cent in the past 6 months.
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Srinivas Pallia, who has been a part of Wipro for over three decades, divested all his shares valued at Rs 5 crore in the company approximately a month and a half prior to his appointment as the new chief executive, according to a report by The Economic Times (ET).
Pallia sold his 100,000 Wipro shares through a 'market sale' on February 14 this year, with the transaction being reported to the exchange on February 15. The total transaction amounted to Rs 5.05 crore, the report added. Following the transaction, Pallia's holdings of securities on the BSE were reduced to zero.
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