3 IT stocks to watch out for on July 5
Sensex is trading 53,691.51, up by 0.86%, and the Nifty 50 iks trading at 15,970.05, up by 0.85%.
The benchmark indices Nifty 50 and Sensex are trading were trading higher, as the shares in the Asia-Pacific as an after effect of Reserve Bank of Australia hiking its interest rates as expected by analysts.
Nifty IT index is at 28,143.50, up by 0.91%, whereas BSE IT is trading at 28,677.04, up by 0.99%. Top gainers in the BSE IT sector today are Brightcom Group, D-Link India, Quick Heal Technologies, NIIT, and Rategain Travel Technologies.
Keep a close eye on these trending IT stocks on Tuesday, July 5, 2022:
Tata Consultancy Services Limited: TCS informed that in the EPIC Systems Corporation matter, the US District Court for Western District of Wisconsin passed an order reducing the jury award of punitive damages to USD 140 million and directed the Clerk of the Court to file an amended judgement accordingly. The company also mentioned that it did not misuse or derive any benefit from EPIC’s documents and plans to defend its position vigorously before the Appeal Court. As an organization, the company remains committed to respecting and protecting proprietary information as well as its reputation. The shares of TCS were up by 0.92%, on the BSE.
Infibeam Avenues Limited: The company unveiled the CCAvenue Mobile App, an omni-channel payment platform with a built-in tap and pay feature. It is harnessing an innovative technology that converts any NFC‐enabled Android phone into a POS terminal. The company says its new offering is expected to revolutionise the Rs 27 billion PoS market in India. Merchants will be able to convert their existing android smartphone devices into a payment terminal by simply downloading a supported app. The shares of Infibeam Avenues were up by 0.76%, on the BSE, today.
Tech Mahindra Limited: Tech Mahindra on July 4, 2022, inaugurated its new campus at Tidel Park in Coimbatore, in line with its plans to expand its footprint into smaller cities and towns to set up talent supply bases. The IT services major plans to hire 1,000 associates in FY22-23 for this 10,000 sq. ft. campus to tap local talent and provide flexibility to existing associates wanting to work from their hometowns. The scrip of the IT company was up by 1.45%, on the BSE today.
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