Mid-cap IT shares in demand
R S Software, Thinksoft Global Services, Sonata Software and CMC have rallied between 10-16% on the BSE.
Shares of mid and small-sized information technology (IT) companies are in demand and trading higher by up to 16% on expectation strong revenue growth for the current quarter.
R S Software, Thinksoft Global Services, Geometric, Sonata Software and CMC have rallied between 10-16%, while Tata Consultancy Services (TCS), HCL Technologies, Tech Mahindra and Oracle Financial Services from the frontline are up 3% each on the Bombay Stock Exchange (BSE).
The S&P BSE IT index, the largest gainer among sectoral indices, is up 2.2% or 202 points at 9,251 compared to a marginal 7 points gain inn benchmark S&P BSE Sensex at 1320 hours.
According to Reuters report, Accenture reported a better-than-expected 7.5% rise in quarterly net revenue, led by a rebound in demand for its consulting services, where it competes with Indian IT companies.
Accenture's net income rose to $881.8 million, or $1.26 per share, in the third quarter ended May 31 from $874.1 million, or $1.21 per share, a year earlier. Analysts had expected earnings of $1.21 per share, added report.
Among the individual stocks, R S Software has surged 16% to Rs 281 on back of over ten-fold jump in trading volumes.
R S Software, Thinksoft Global Services, Geometric, Sonata Software and CMC have rallied between 10-16%, while Tata Consultancy Services (TCS), HCL Technologies, Tech Mahindra and Oracle Financial Services from the frontline are up 3% each on the Bombay Stock Exchange (BSE).
The S&P BSE IT index, the largest gainer among sectoral indices, is up 2.2% or 202 points at 9,251 compared to a marginal 7 points gain inn benchmark S&P BSE Sensex at 1320 hours.
According to Reuters report, Accenture reported a better-than-expected 7.5% rise in quarterly net revenue, led by a rebound in demand for its consulting services, where it competes with Indian IT companies.
Accenture's net income rose to $881.8 million, or $1.26 per share, in the third quarter ended May 31 from $874.1 million, or $1.21 per share, a year earlier. Analysts had expected earnings of $1.21 per share, added report.
Among the individual stocks, R S Software has surged 16% to Rs 281 on back of over ten-fold jump in trading volumes.
Sonata Software has rallied 11% to Rs 83.40, while Thinksoft Global Services and CMC are up 10% each at Rs 429 and Rs 2,006 respectively.
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First Published: Jun 27 2014 | 1:30 PM IST