3 IT stocks to watch out for on August 23

3 IT stocks to watch out for on August 23

Indian Market
by 5paisa Research Team Last Updated: 2022-08-23T10:25:30+05:30

On Tuesday morning, the benchmark indices Nifty 50 and Sensex recovered yesterday’s fall.

On Tuesday morning, the benchmark indices Nifty 50 and Sensex seem to have recovered yesterday’s losses in the early morning trade. Sensex is trading 58,978.88, up by 0.35%, and the Nifty 50 was trading at 17,569.60, up by 0.45%. Nifty IT index is at 29,141.90, down by 1.14%, whereas BSE IT is trading at 29,725.46 down by 0.94%.

Keep a close eye on these trending IT stocks on Tuesday, 23, August 2022:

Tata Consultancy Services Limited: The TCS BaNCS™ Global Securities Platform has been chosen by Absa Corporate and Investment Bank in South Africa to change and modernise its investor services products and improve customer experience throughout the trading and corporate actions lifecycle.

The TCS BaNCS™ Global Securities Platform, a cutting-edge post-trade processing solution, has been chosen by Absa Corporate and Investment Bank, a service leader in the African capital markets industry, to transform itself. The shares of TCS were trading 0.59% lower, on the BSE in the morning session.

Birlasoft Limited: CoreStack, a global multi-cloud governance provider that empowers enterprises to unleash the power of the cloud has recently announced a global partnership with Birlasoft, a subsidiary of the diversified CK Birla Group, and a global enterprise digital and IT services company. CoreStack's AI-powered NextGen Cloud Governance solution will enable Birlasoft to integrate industry-leading cloud management capabilities into Birlasoft’s infrastructure management platform, “iSight” and further enhance Birlasoft’s offering in the Cloud Management and Operations space. The shares of Birlasoft were trading 0.96% lower, on the BSE.

Subex Limited: Ethio Telecom has chosen Subex to implement its Fraud Management system, the company stated. Ethio Telecom will be able to switch from a conventional rules-based strategy to an AI-first approach with the help of the solution, which is built on Subex's AI orchestration platform, HyperSense. They will be able to identify new and unidentified dangers in real-time as a result of this strategy. With more than 50 million users, Ethio Telecom is the top integrated telecom solutions provider in Ethiopia. The scrip of the IT company was up by 2.69%, on the BSE today.

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