Rising IT Stocks Led by Infosys Surge Amid Buyback Decision
Infosys shares surged nearly 4% on Thursday after promoters chose to abstain from a buyback, boosting investor confidence. The positive sentiment also lifted other IT stocks, driving up the BSE Sensex and NSE Nifty. A tentative U.S.-India trade deal further bolstered the sector's gains.
- Country:
- India
IT stocks captured investor attention on Thursday, with Infosys at the forefront, surging nearly 4%, positively influencing the equity markets.
Infosys shares closed at Rs 1,528.85 on BSE and reached a day-high of Rs 1,545.70. The decision by Infosys promoters, including notable figures like Nandan Nilekani and Sudha Murty, to exclude themselves from the Rs 18,000 crore share buyback, sent a strong signal of confidence in the company's future.
The optimistic trend extended to other IT giants, boosting shares of companies like HCL Tech, Tata Consultancy Services, and Wipro. The sector’s uplift was further encouraged by a softer stance from Trump on H1B visas, alongside potential trade agreements between India and the US.
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