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IT stocks gains as Trump softens stance on immigration in speech to Congress

01 Mar 2017 Evaluate

Infosys is currently trading at Rs. 1024.70, up by 12.40 points or 1.22% from its previous closing of Rs. 1012.30 on the BSE. The scrip opened at Rs. 1014.60 and has touched a high and low of Rs. 1026.00 and Rs. 1011.80 respectively. So far 79305 shares were traded on the counter.

Tata Consultancy Services is currently trading at Rs. 2484.70, up by 18.20 points or 0.74 % from its previous closing of Rs. 2466.50 on the BSE. The scrip opened at Rs. 2484.00 and has touched a high and low of Rs. 2501.00 and Rs. 2471.40 respectively. So far 22374 shares were traded on the counter.

Wipro is currently trading at Rs. 490.00, up by 1.50 points or 0.31% from its previous closing of Rs. 488.50 on the BSE. The scrip opened at Rs. 488.95 and has touched a high and low of Rs. 494.80 and Rs. 486.00 respectively. So far 40821 shares were traded on the counter.

Information technology (IT) stocks gained traction after the US President Donald Trump’s first speech to US congress was seen more restrained than the harsh rhetoric seen during his pre-election speeches. The speech did not have any comment on visa issues that may hit domestic IT firms. Instead, the US President said the US immigration should be based on a merit-based system, rather than relying on lower-skilled immigrants.

Peers
Company Name CMP
TCS 2196.00
Infosys 1056.10
HCL Technologies 1256.00
Wipro 166.35
Tech Mahindra 1559.00
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