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Information technology stocks including Infosys. Wipro & Mindtree, Rally Post Sept Quarterly Numbers

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Wipro and Mindtree hit 52-week high on BSE, while Infosys heads towards yearly high

Shares of information technology companies announced September quarter figures after the market closed on Wednesday, driven by better-than-expected figures posted by IT bellwether Infosys. Wipro and Mindtree touched 52-week highs on BSE, while Infosys is inching towards its annual highs.

Infosys shares rose over 3 per cent to hit an intra-day high of Rs 1,784 after the company reported a consolidated profit of Rs 5,421 crore for the quarter ended September 2021, an increase of 11.9 per cent over the same quarter last year. Was. Revenue from operations stood at Rs 29,602 crore in the September quarter as against Rs 24,570 crore in the same quarter last year, showing a growth of 20.48 per cent year-on-year. Infosys raised its annual revenue forecast or revenue guidance for the current fiscal to 16.5-17.5 per cent as against earlier forecast of 14 per cent – 16 per cent, while maintaining its margin guidance between 22 per cent and 24 per cent .

Shares of Wipro rose 7 per cent to hit a 52-week high of Rs 724.70 as the IT major reported a 19 per cent rise in consolidated net profit at Rs 2,931 crore for the second quarter as compared to the same period last year. In this it was Rs 2,466 crore. Wipro’s revenue for the quarter grew 30 per cent year-on-year to Rs 19,667 crore, driven by volume-based growth across all markets and business segments.

The company’s net profit jumped 57.2 per cent to Rs 398.9 crore for the quarter ended September 2021, while Mindtree grew 12 per cent to Rs 4,924.90 as compared to profit of Rs 253.7 crore in the year-ago period.

Among other IT stocks, TCS and HCL Technologies are trading weak. TCS has been lagging ever since its third quarter fell short of market expectations. Beginning its September quarter results on Friday, TCS reported a 28.75 per cent jump in its second quarter profit, driven by demand from businesses triggered by the digitization pandemic. HCL Tech is about to announce its Q2 numbers during the day.

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