IT shares extend rally; TCS, Infosys, HCL Tech, Tech Mahindra hit new highs

The large deal wins for both Infosys and Wipro reinforces positive stance on the IT Services industry, analysts at Motilal Oswal said

Shares of information technology (IT) companies continued their northward journey at the bourses, with the Nifty IT and the S&P BSE IT indices hitting their respective fresh record highs on Wednesday amid hopes of more large deal wins, which would further help accelerate the sector's growth momentum.

Tata Consultancy Services (TCS), Infosys, HCL Technologies, Tech Mahindra, Larsen & Toubro (L&T) Infotech and MphasiS from the Nifty IT index hit their respective fresh record highs. Birlasoft and Persistent Systems from the non-index stocks, too, hit new highs today.

At 09:51 am, Nifty IT index and the S&P BSE IT