What is Driving the Rally in IT Stocks During the Pandemic? | In the News

It is driven mainly by the momentum IT majors have seen over the last few months in terms of deal wins and tech investments from clients, say experts. BSE data shows that this is probably the highest rally TCS, Infosys, Wipro and HCL Tech stocks have seen in the last five years.

These firms were able to win more deals as much as during pre-pandemic levels as they enjoy client trust. Chirajeet Sengupta, Partner, Everest Group, pointed out: “You need to convince not just the Chief Information Officer but the board, too. Some of the tech investments companies go beyond the CIO and decisions are taken at the CEO and board levels. So they need to connect with the board.”