BSE IT index zooms over 1000 points; Mindtree, L&T Infotech rally 11%

At 11:32 am, the S&P BSE IT index, the top gainer among sectoral indices, was up 1,003 points or 4.7 per cent at 22,233 points, as compared to 1.4 per cent rise in the S&P BSE Sensex

Shares of information technology (IT) companies were on a roll on Thursday with the S&P BSE IT index surging over 1,000 points on the BSE after the sector giant, Tata Consultancy Services (TCS), reported a healthy set of July-September quarter (Q2FY21) numbers that were above analysts' estimates.

The TCS board has also approved a buyback of Rs 16,000 crore to buy 53.3 million shares at Rs 3,000 per share. This was at 9.5 per cent premium from Wednesday's close of Rs 2,737.4 per share. Besides, the company also declared an interim dividend of Rs 12 per share. The record date for