Stock market today: Ahead of Infosys results, the IT stocks have suddenly become bullish in the intraday trade. Speaking on the upcoming Infosys results fueling other IT stocks Ravi Singhal, Vice Chairman at GCL Securities said, "Market is expecting strong Infosys result that would change the EPS and PE ratio of other IT stocks. Stock market investors are buying other IT stocks due to this positive Infosys result impact on other IT stocks as positive Infosys results will have positive impact on the EPS and PE ratio of other IT stocks." On why IT stocks are skyrocketing ahead of Infosys results Saurabh Jain, AVP-Research at SMC Global Securities said, "Market is expecting strong Infosys results as they expect the company to come with revised upside guidance and earnings. Now, after the strong Infosys results, there is huge expectation of Mphasis like rally getting replicated in the large-cap IT stocks too."

Source: Mint July 14, 2021 06:20 UTC