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Shares of IT companies surged today after brokerage firm Morgan Stanley said it expects 2018 to be a year of turnaround for these stocks. The NSE Nifty IT Index rose over 2% to 28-month high of 12,261.
The brokerage firm said improving global macroeconomic scenario could spur spending on information technology services and lead to an upward revision in earnings expectations for these companies.
Wipro Ltd is currently trading at Rs327, up by Rs10.55 or 3.33% from its previous closing of Rs316.45 on the BSE. The scrip opened at Rs315 and has touched a high and low of Rs327.55 and Rs315, respectively.
Tata Consultancy Services Ltd is currently trading at Rs2,832.1, up by Rs84.9 or 3.09% from its previous closing of Rs2,747.2 on the BSE. The scrip opened at Rs2,748.2 and has touched a high and low of Rs2,834.35 and Rs2,748.2, respectively.
Infosys Ltd is currently trading at Rs1,098.9, up by Rs18.5 or 1.71% from its previous closing of Rs1,080.4 on the BSE. The scrip opened at Rs1,080 and has touched a high and low of Rs1,102.4 and Rs1,080, respectively.
HCL Technologies Ltd is currently trading at Rs939.5, up by Rs32.6 or 3.59% from its previous closing of Rs906.9 on the BSE.The scrip opened at Rs907 and has touched a high and low of Rs940 and Rs907, respectively.
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