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IT stocks jump on Rs plunge

IT stocks gained as much as 3 per cent on Thursday amid the rupee plunging to nine-month low of 62.25 against the dollar, as the stronger US currency boosts the sales of software firms in rupee terms.

Shares of Tech Mahindra climbed 2.97 per cent and Wipro rose by 1.25 per cent on the BSE. Among others, HCL Tech was up 1.09 per cent, TCS rose 1.08 per cent) and Infosys firmed up 1 per cent.

Led by the gains in these stocks, the BSE IT index rose by 1.27 per cent to settle at 11,001.73 and was the top gainer among the 12 sectoral indices.
Agencies

Agencies

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