February 13, 2013 / 8:18 AM / 4 years ago

MARKET EYE-Indian tech shares rally; TCS hits record high

1 Min Read

* Shares of software services exporters rally with Tata
Consultancy Services Ltd hitting a record high, on
hopes earnings will look up in fiscal 2014 on the back of an
improving global economy.
* Gains come a day after industry body, the National Association
of Software and Services Companies (Nasscom), forecasts exports
from the software services sector will grow 12-14 percent in
2013/14 to as much as $87 billion.      
* Infosys Ltd shares gain 1.21 percent, while HCL
Technologies Ltd rises 3.53 percent. 
* TCS shares gain 2 percent, earlier hitting an all-time high of
1,441.65 rupees, after Nielsen Holdings NV, best known
for its TV ratings, increased the size of its contract with
India's largest software service exporter to $2.5 billion from
$1 billion. 
* "This reinforces TCS's positioning further in the large deal
market and improves confidence in FY14 growth," HSBC said in a
note dated on Tuesday.     
 

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)

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