Thursday, 16 February 2017

Infosys and TCS lead the early market hour rally in Sensex. Put together Infosys & TCS have contributed more than 50% to the Sensex gains.Both TCS and Infosys are gaining traction on reports of buy back proposals being considered in the board meetings.
 
IT stocks were seen underperforming markets post Trump rhetoric on the H1B- Visa bill being tabled in the US House of Representatives. Previous week also saw mutual fund schemes investing in IT stocks, outperform, as some amount of value buying was seen by the fund managers in IT stocks.

ITC, Adani Ports, Coal India and ICICI Bank are seen keeping check on Sensex gains in early market hours.

Infosys Ltd is currently trading at Rs 998.45, up by Rs 16.1 or 1.64% from its previous closing of Rs 982.35 on the BSE.

The scrip opened at Rs 992 and has touched a high and low of Rs 1000.8 and Rs 990 respectively. So far 643332(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 225640.36 crore.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 1278 on 03-Jun-2016 and a 52 week low of Rs 900.3 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 998 and Rs 936 respectively.

The promoters holding in the company stood at 12.75 % while Institutions and Non-Institutions held 57.89 % and 28.87 % respectively. The stock is currently trading above its 200 DMA.


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