Nifty IT Index Hits Fresh 52-Week High

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Nifty IT index hit fresh 52-week high in range-bound market. The Nifty IT Index is trading higher for the second straight day as the rupee depreciated against the dollar.

Information technology companies benefit from a fall in rupee as they receive three-fourths of their revenue from the US.

Shares of Tata Elxsi rose by 3.5%, while Tech Mahindra and KPIT Tech were up 3% on the NSE.

Tata Consultancy Services, Polaris Consulting Services, MphasiS, L&T Infotech, KPIT Technologies and Nucleus Software Exports hit 52-week highs on the BSE.

Tata Elxsi Ltd is currently trading at Rs 901.05, up by Rs 32.3 or 3.72% from its previous closing of Rs 868.75 on the BSE. The scrip opened at Rs 872 and has touched a high and low of Rs 912.3 and Rs 872 respectively.

Tech Mahindra Ltd is currently trading at Rs 483.8, up by Rs 12.85 or 2.73% from its previous closing of Rs 470.95 on the BSE. The scrip opened at Rs 474 and has touched a high and low of Rs 486 and Rs 474 respectively.

KPIT Technologies Ltd is currently trading at Rs 162, up by Rs 4.25 or 2.69% from its previous closing of Rs 157.75 on the BSE.

MphasiS Ltd is currently trading at Rs 745, up by Rs 32.55 or 4.57% from its previous closing of Rs 712.45 on the BSE.

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