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

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

TCS
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The IT companies are expected to post healthy numbers for the second quarter of the fiscal year 2020-21 owing to multiple tailwinds.

Deepak KorgaonkarPuneet Wadhwa Mumbai / New Delhi
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

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