Midcap IT shares in demand; Happiest Minds, MphasiS rally over 5%

At 11:41 am; the S&P BSE IT index and Nifty IT indices were up 2 per cent each, as compared to 0.14 per cent gain in the benchmark indices the S&P BSE Sensex and Nifty50.

Shares of midcap information technology (IT) companies were in demand on Wednesday and rallied upto 9 per cent on the BSE in intra-day trade, after Mindtree reported a healthy set of numbers for the quarter ended June 2021 (Q1FY22). Meanwhile, Infosys is scheduled to announce its Q1 results later in the day, while the board of Wipro will meet on Thursday to consider June quarter earnings, as per stock exchange information.

Shares of Mindtree surged 9 per cent to hit a new high of Rs 2,725 in intra-day trade, after the company reported a net profit of Rs 343.4