3 IT stocks to watch out for on August 30

On Tuesday morning, the benchmark indices Nifty 50 and Sensex seemed to have recovered from yesterday’s bloodbath. 

In the morning deals, Sensex is trading at 58,463.35, up by 0.85%, and the Nifty 50 was trading at 17,464.45, up by 0.92%. BSE IT index is at 28,477.83 down by 0.74%, whereas Nifty IT is trading at 27,897.10 up by 0.79%. 

Keep a close eye on these trending IT stocks on Tuesday, August 30, 2022:

COFORGE Limited:  COFORGE on August 29, 2022, declared the opening of its Centre of Excellence (CoE) for the Web3 and the Metaverse. The facility will support interdisciplinary research and identify various use cases for the metaverse and its intersection with digital technologies like blockchain, smart contracts, artificial intelligence, machine learning, cognitive, data & analytics, and integration with other enterprise systems. In order to meet its clients' demands for Web3 and the Metaverse, the company also plans to train and upskill over 1000 of its staff. The shares of COFORGE were trading 1.1% higher, on the BSE in the morning session.  

Sonata Software Limited: Sonata Software has informed SEBI that the company has fixed Friday, 9 September 2022 is fixed as the Record Date, to ascertain the eligibility of shareholders for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) new fully paid up equity shares of Rs 1 each for every 3 (Three) fully paid-up existing equity share of Rs 1 each held, subject to the approval of Members which is being obtained by way of the postal ballot through remote e-voting. The shares of Soanata were trading 2.62% higher on the BSE.

NECLO Limited: Satellite company and broadband services firm Intelsat on August 25, 2022, announced the beginning of Intelsat's inflight connectivity services in Indian skies through an agreement with Tata Group satellite services firm Nelco. As part of the collaboration, Intelsat's airline partners and flyers will enjoy end-to-end broadband coverage on domestic and international aircraft flying to and from an Indian airport as well as the aircraft flying over the country. The scrip of the IT company was up by 5% at Rs 984.40 on the BSE today.