As the software giant Infosys prepares to unveil its Q2 results for the current fiscal tomorrow, four major IT stocks hit a fresh 52-week high today.

But Infosys itself, which touched its 52-week high exactly a month ago, did not join the party though it posted significant gains. Wipro was also trading close to its 52-week high, that it had reached early last month. 

There has been quite a buzz in the market as to what Infosys’ Q2 results will be, and more importantly its guidance for the rest of the year. The stock had gained Rs 15.15 to trade at Rs 3,125 on the NSE around 2.10 pm today. But it was not able to breach its 52-week high of Rs 3,188 touched on September 10.

However, the market today witnessed three other frontline IT stocks and another emerging major in the IT space hitting fresh 52-week highs. 

The HCL Technologies stock raced to a new 52-week high of Rs 1,130 on the NSE today. TCS logged a new yearly high of Rs 2,098. Tech Mahindra was the other major IT stock to reach a new 52-week high of Rs 1,517.90.

MindTree Ltd, an emerging IT star, rose to Rs 1,329, a new 52-week high. Wipro was trading at Rs 480.90, near its 52-week high of Rs 500.60, touched in September.

But what a fabulous year it has been for these IT stocks, with gains ranging from 60 per cent to more than 100 per cent. It is true that rupee depreciation has been a key factor for their earnings, but the fact that they have delivered even in tough times has been a major factor for these stocks’ performance in the current year.

Infosys, which touched a 52-week low of Rs 2,186 on April 29 this year, has had a nice run after the return of N.R. Narayana Murthy, one of its founders, as Executive Chairman on June 1 and has gained nearly 50 per cent from its 52-week low.

TCS has gained about 80 per cent this year from a 52-week low of Rs 1,197 touched on December 18 last year. It moved to a high of Rs 2,098 today. Tech Mahindra, which has merged itself with Satyam Computers, is another stock to witness a similar appreciation in price over the year. After hitting a low of Rs 865.50 on December 7, 2012, the stock raced to a new yearly high of Rs 1,517.90 today.

MindTree Ltd, which is emerging as a star performer in the stock markets, had witnessed a more than 100 per cent gain in share price during the last one year. From a low of Rs 600, that its shares touched on November 6, 2012, the stock hit a 52-week high of Rs 1,329 today.

Wipro is another IT major to make substantial gains during the year. The stock has risen from a 52-week low of Rs 295, touched on November 8 last year, to a high of Rs 500.60 on September 3, 2013.

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