Infosys Tech Pilots Surge In Software Stocks

Software scrips led by Infosys Technologies overshadowed the rest at the major bourses yesterday. Other notable gainers included Tata Infotech, CMC, Leading Edge and Satyam Computer.

Marketmen said that the renewed interest in the Infosys scrip was due to the raising of the foreign institutional investor ceiling in the stock.

The scrip hit the upper end of the circuit filter on the NSE yesterday at Rs 1761.85, a gain of Rs 121.10 over the previous close of Rs 1640.55. The stock has gained Rs 233.75 on the BSE and Rs 208.55 on the NSE over the past two trading days.

 

The BSE Sensex closed at 3860.97, a gain of 25.62 points over the previous close of 3835.35.

At the BSE, the scrip closed at Rs 1775, a gain of Rs 134.50 over the previous close. In the depository, 301 shares of the scrip worth Rs 5,03,761 were traded at an average price of Rs 1673.62.

The Tata Infotech scrip was frozen at the upper end of the circuit filter at Rs 1002 on the BSE and Rs 900.70 on the NSE, a gain of Rs 9I and Rs 0.45 respectively. Leading brokers said that the scrip moved up on reports that the company would be shortly holding a meeting to discuss the bonus issue.

Among the other scrips which joined the bandwagon were CMC and Satyam Computer. Marketmen said that out of the 1,34,000 shares of CMC that were traded on the BSE yesterday, there was a negotiated deal of one lakh shares at a premium of Rs 5 to the market price. The scrip closed at Rs 62, a gain of Rs 2.50 over the previous close.

Satyam Computer touched its 52-week high of Rs 91.50 during intra-day trading before closing lower at Rs 90.25, a gain of Rs 8 over the previous close.

Leading Edge, a B2 software scrip gained Rs 11 over the previous close to end the day at Rs 128. Leading brokers said that the gain was on account of expectations of good results from the company.