IT sector leaps after IT cos' Q3 results
Bangalore: BSE-IT Index, which was among top losers last week (down four percent), ended this week on high note with a gain of nine percent. This was clearly on the back of better than expected third quarter (Q3) results announced by the major IT companies. The index traded in the range of 5024- 2402 points. As on January 19, 2010, the total market capitalization of 
507,409.05 crore.
According to the sources British Airways plans to introduce a $600 million IT contract by April 2010, and this contract's span is likely to be for six years. Companies like Infosys, TCS, HCL, Wipro, Polaris and iGate are all set to bid for this. Currently, the carrier works with six IT vendors globally. This is also termed as one of the reasons for IT stocks to perform well on BSE.
Among all the 13 indices listed on BSE, IT sector was followed by PSU and Auto sector in gainers list, whereas banking, FMCG and metal spaces ended the week in red zone with loss of about two percent each. Even at the time rupee hit its highest level in more than 15 months against the dollar on January 11, 2010, IT stock gained.
With demand improving and new deals flowing in, Indian IT companies have started 2010 on a good note, indicating that the sector is coming out of woods after being hit hard by the global financial meltdown last year.
507,409.05 crore.
According to the sources British Airways plans to introduce a $600 million IT contract by April 2010, and this contract's span is likely to be for six years. Companies like Infosys, TCS, HCL, Wipro, Polaris and iGate are all set to bid for this. Currently, the carrier works with six IT vendors globally. This is also termed as one of the reasons for IT stocks to perform well on BSE.
Among all the 13 indices listed on BSE, IT sector was followed by PSU and Auto sector in gainers list, whereas banking, FMCG and metal spaces ended the week in red zone with loss of about two percent each. Even at the time rupee hit its highest level in more than 15 months against the dollar on January 11, 2010, IT stock gained.
With demand improving and new deals flowing in, Indian IT companies have started 2010 on a good note, indicating that the sector is coming out of woods after being hit hard by the global financial meltdown last year.