Equity benchmark Sensex was trading in green today, after it crashed over 1600 points yesterday (April 12, 2021). During the day, Sensex was up by over 500 points and touched a high of 48,470.27 points. In the case of Nifty, it was trading at 14,472.72 points. However, today information technology stocks were under pressure.
At 2.25 pm, Coforge Ltd was trading at Rs 2880.85 per piece. It was down by 7.5 per cent or Rs 234.90. Early in the day, it was trading in green only to drop and trade at a low of Rs 2820.00 at 12.10 pm. Recently, Coforge signed definitive agreements to acquire 60 per cent stake in SLK Global Solutions for Rs 918 crore. Coforge said it will acquire another 20 per cent from Fifth Third Bank after two years.
In the case of L&T Technology Services Ltd, Mindtree, Tata Consultancy Services (TCS), Wipro and Tech Mahindra, their stocks were down by more than 3 per cent during the day.
L&T Technology Services’ share fell by 5.03 per cent at Rs 2697.10 per share. The low of the day was Rs 2681.40 per piece.
TCS was trading at Rs 3097.25 per piece at 2.25 pm, down by 4.45 per cent. TCS share was down after the company's March quarter earnings failed to cheer investors. The country's largest tech exporter TCS on Monday reported a 14.9 per cent jump in its consolidated net profit for the March quarter to Rs 9,246 crore on higher profit margins and revenue growth.
Meanwhile, Mindtree, Tech Mahindra and Wipro were trading at Rs 2049.95, Rs 1002, and Rs 418.55 per share respectively.