IT stks factor in most positives; pay hike, promotion surprising: Analysts

'New era' for IT companies as they do better than other sectors in the coronavirus pandemic.

The announcement of a salary hike and promotions across the-board by Infosys on Wednesday and earlier by Tata Consultancy Services (TCS) have come in as a surprise for analysts. While announcing its financial performance for the September 2020 quarter of the current fiscal (Q2FY21), Infosys said it will roll out salary increases and promotions across all levels, effective January 1. The company also said it will give 100 per cent variable pay along with a special incentive for Q2.

“This is the start of a new era for information technology (IT) companies. Things are definitely going right for them for