Top stocks buzzing in today’s trade: TCS, Infosys take a lead

Shares of commodity exchange MCX today plunged more than 5 per cent, hitting their 52-week low after the company posted a 44.85 per cent fall in consolidated net profit at Rs 18.77 crore for the December quarter.

Banking stocks recovered with the Nifty PSU Bank (up 2 per cent) being the leading sectoral gainer in the noon trade. Image source: Pixabay

The benchmark indices rallied on Wednesday, as IT stocks such as Infosys and TCS and banking stocks such as Axis Bank and SBI rallied amid broader value buying in the market.

At 12:30 pm, the S&P BSE Sensex was trading at 34,912, up 141 points, while the broader Nifty50 was ruling at 10,736, up 36 points.

Below are the top stocks buzzing in today’s trade:

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IT stocks

IT stocks such as Infosys, Tata Consultancy Services (TCS), HCL Technologies and Tech Mahindra registered gains of as much as 3 per cent on the BSE.

Infosys surged 3.30 per cent to touch a 52-week high of Rs 1,160, registering a surge in its shares price for the eighth consecutive session.

TCS also hit a new high of Rs 2925.00. Similar was the case with HCL Technologies which also touched its 52-week high of Rs 962.70.

Banking stocks

Banking stocks recovered with the Nifty PSU Bank (up 2 per cent) being the leading sectoral gainer in the noon trade, tracking gains in government bond prices after the government cut its additional borrowing requirement for 2017-18 (Apr-Mar) to Rs 20,000 crore from Rs 50,000 crore earlier.

Trigyn Technologies

Trigyn Technologies hit a 52-week high of Rs 166, up 7% on the BSE after the company said that it has awarded a multiyear technical support contract by African Regional lntellectual Property Organization (ARIPO) Harare, Zimbabwe.

MCX

Shares of commodity exchange MCX today plunged more than 5 per cent, hitting their 52-week low after the company posted a 44.85 per cent fall in consolidated net profit at Rs 18.77 crore for the December quarter on lower volumes in the bullion segment. It had clocked a net profit of Rs 34.04 crore in the same quarter last year.

Jaypee Infratech

Debt-ridden Jaypee Infratech's chief financial officer (CFO) Ram Bahadur Singh resigned on health grounds, the company informed. Reacting to this, the stock of the company fell over 3 per cent to Rs 17 on the BSE.

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