3 IT stocks to watch out for on August 2

Indian Market
by 5paisa Research Team Last Updated: 2022-08-02T11:20:27+05:30

On Tuesday morning, the benchmark indices Nifty 50 and Sensex are trading seen trading on the lower side amidst the rising geopolitical tensions between the US and China.

Sensex is trading 57,782.53, down by 0.59%, and the Nifty 50 was trading at 17,221.15, down by 0.69%. Nifty IT index is at 28,964.45, down by 0.87%, whereas BSE IT is trading at 29,355.35, down by 0.76%.

Keep a close eye on these trending IT stocks on Tuesday, 2 August 2022:

Nazara Technologies Limited: In intraday trading on Monday, Nazara Technologies' shares rose 16% to Rs 616 per share. The increase follows the mobile gaming company's announcement that its consolidated net profit increased by nearly 22% year over year (YoY) to Rs 16.5 crore in the April-June quarter (Q1FY23). In the meantime, revenue increased by 70% YoY to Rs 223.1 crore from Rs 131.2 crore in the corresponding period last year. The shares of Nazara Technologies rose and were trading 12.98% higher, on the BSE in the morning session.

Infosys Limited-. Infosys announced the opening of its Sydney Living Lab, a high-tech co-creation space for digital innovation, part of a network of over 20 established globally, including Melbourne. The announcement was made during the Premier of New South Wales, Dominic Perrottet's visit to Infosys headquarters in Bengaluru, India.

The new Infosys office in Sydney, measuring 2,030 square metres over two stories at 100 Arthur Street in North Sydney, houses a 160 square metre co-creation space as part of the NSW Living Lab. Shares of Infosys were trading 1.03% lower on the BSE.

Tech Mahindra Limited: In order to map the streets, Google Maps employed the Mahindra Bolero Neo, Marazzo, and older-generation Scorpios. Tech Mahindra and Genesys International, a business that specialises in geospatial services and mapping, are partners of Alphabet. For the first time ever, a tech giant has relied on regional partners to help collect data for Street View. The scrip of the IT company was down by 1.49% on the BSE today.

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