TCS, Wipro, Infosys, HCL Tech: Why experts see IT stocks’ price jump on Monday — What’s giving the boost?
After Accenture’s better-than-expected results announcement, market experts are expecting a big rally in Indian IT stocks. They said that shares of Indian IT companies listed on the NYSE saw strong buying post-Accenture results, which also hints at a big gap-up opening for Indian IT stocks when they reopen on Monday. Infosys share price finished close to 6%, whereas Wipro shares ended over 6% at the NYSE after Accenture’s results were announced on Wednesday.
According to stock market experts, Indian IT companies receive more than 50% of their average business from the US, with Accenture playing a major role.
