3 IT stocks to watch out for on June 28

IT stocks in focus

by 5paisa Research Team Last Updated: 2022-06-28T13:15:31+05:30

Sensex is trading at 52,816.58, down by 0.65%, and the Nifty 50 was trading at 15,739.30, down by 0.59%.

The benchmark indices Nifty 50 and Sensex are trading lower as the rupee hit a record low of Rs 78.59 against the dollar in the pre-market sessions. Sensex is trading at 52,816.58, down by 0.65%, and the Nifty 50 was trading at 15,739.30, down by 0.59%.  

Nifty IT index is at 28,024.40 down by 1.13%, whereas BSE IT is trading at 28,378.78 down by 1.17%. Top gainers in the BSE IT sector today are Kellto Tech Solutions, Rategain Travel Technologies, Ramco Systems, Cigniti Technologies, and Mastek.  

Keep a close eye on these trending IT stocks on Tuesday, 28 June 2022:    

Nazara Technologies Limited: Shares of Nazara Technologies surged 19 per cent to Rs 623.95 on the BSE on June 24, on the back of heavy volumes after the stock turned ex-date for a 1:1 bonus share issue. The stock recovered 29 per cent from its record low level of Rs 484 touched on Wednesday, June 22. It had hit an all-time high of Rs 1,677 on October 11, 2021. It had fixed Monday, June 27, 2022, as the record date, to ascertain the eligibility of shareholders for issuance of bonus equity shares of the company in the proportion of 1 new fully paid-up equity share of Rs 4 each for every 1 fully paid-up existing equity share of Rs 4 each held. The board of directors of the company at their meeting held on May 13, 2022, recommended the bonus issue. The shares of Nazara were down by 2.09%, on the BSE.  

Tata Elxsi Limited : Tata Elxsi’s Kozhikode Development Centre at UL Cyber Park will employ 1,000 engineers in the next two years. The company focuses on modern areas such as Electric Vehicle, Connected Car, OTT, 5G, state-of-the-art digital technology, Artificial Intelligence and the Internet of Things. Currently, the space taken up at UL Cyber Park can accommodate up to 500 people. Considering the hybrid work model, it can be used to employ up to 1000 people. Recruitment will be done from campuses in North Kerala. Shares of Tata Elxsi were down by 0.66% on the BSE today.  

Coforge :The digital services and solutions provider, Coforge, announced a partnership with Estes Express Lines (Estes), the largest privately held freight carrier in North America. The go-to-market launch will initially focus on a platform-powered application specifically created to address multi-dimension pricing plans required to generate the optimal freight rates for shippers and brokers who depend on carriers like Estes to move freight of all kinds around the world. The Coforge Freight Pricing & Rating (PRISM) application is a platform-based solution that will be offered to carriers in North America and Europe. The scrip of the IT company was down by 1.14% on the BSE today. 

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