TCS m-cap at Rs 10 trn, Wipro at 20-yr high; analysts see more gains ahead

Shares of information technology (IT) companies were on a roll at the bourses on Monday, after Tata Consultancy Services (TCS) announced share buyback plan amid expectation of strong earnings in the July – September quarter of the current fiscal (Q2FY21). And if analysts are to be believed, IT stocks still have more steam left.

At the bourses, the Nifty IT index hit a record high of 20,748 in intra-day trade on Monday, up 2.8 per cent at 20,677. In comparison, the Nifty50 index gained 1.2 per cent on the NSE. Among stocks, TCS surged 6 per cent to hit a