IT shares in demand ahead of Q3 results; TCS, Infy, HCL Tech hit new highs

Analysts at Motilal Oswal said the multiple mega deal wins in Cloud and Captive should add incremental growth to the sector's already buoyant organic growth momentum

Shares of information technology (IT) companies continued their northward march with the Nifty IT index hitting fresh record high on the National Stock Exchange (NSE) on Monday, as the sector kick starts its October-December quarter (Q3FY21) earnings from the current week.

Tata Consultancy Services (TCS) and Larsen & Toubro Infotech (LTI) were up 2 per cent at Rs 2,988 and at Rs 3,769, respectively, hitting new highs on Monday. Infosys, HCL Technologies, Wipro, and Tech Mahindra, too, were trading at their respective fresh record highs on the NSE.

At 10:18 am, Nifty IT index was up 1 per