Infosys nos. boost confidence in IT stocks

IT stocks jumped more than 5% on Tuesday following Infosys Technologies (Infosys), India`s second biggest software exporter reported a 9.17% rise in consolidated net profit and expects growth of 16.3% - 18.3% in consolidated earnings in financial year 2008-09.

Shares of Infosys jumped Rs 88.55, or 6.23%, to trade at Rs 1,511, while BSE IT index surged 201.52 points, or 5.51%, to trade at 3,860.90. (2.59 p.m.)

Tata Consultancy Services (TCS), the nation`s no. 1 software exporter jumped 7.36% while Wipro, India`s third largest software exporter surged 5.09% on Tuesday on expectation of better financial performace. (3.03 p.m.)

The stock has shown a rise of 3.40% over the week and 10.34% over a month. The total volume of shares traded was 1,076,833 at the BSE. (2.59 p.m.)