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Indian technology stocks zooms as USD strengthens

The Indian Information Technology stocks have zoomed ahead today with the US Dollar tounching INR 42.6 levels during intraday today. If there is any other sector that will cheer it he US Dollar strengthens, it is the Indian IT Industry. Needless to say, Indian investors who have put in huge monies into Indian IT Stocks that were having a rather dull period for over a year or two now have reasons to smile.

The CNX IT Index is up at 4513.95 (at 2:55 PM IST), up by about 3.90%. Major gainers on the CNX IT today include TCS, Polaris, HCL Tech, Infosys and IFlex.

Intraday highs of some major IT Stocks (NSE; 2:54 PM IST)

Infosys Technologies - Rs. 1824.00
Satyam Computer Services Limited - Rs. 515.00
Tata Consultancy Services - Rs. 969.80
Wipro - Rs. 507.00
MPhasis - Rs. 254.85
HCL Tech - Rs. 306.10
Polaris - Rs. 110.00
Tech Mahindra - Rs. 944.00
Patni - Rs. 280.00

Add commentMay 14th, 2008

SBI Magnum Contra Mutual Fund Dividend of Rs. 4 per unit

SBI MF has done it once again. The announcement of a dividend of 40% on a face value of Rs. 10 or Rs. 4 per unit. May 16, 2008 will be taken as the record date for distribution of the dividends. The earlier dividend announcements are made in May 2007 and April 2006, both of which are of 40%

1 commentMay 14th, 2008