Three IT stocks to watch out for on 22 March

Nifty IT index ended in the red territory yesterday at 35,377.35, down by 0.75%

Yesterday, frontline equity indices Nifty 50 and Sensex recorded losses of 0.98%, closing at 17,117.60 and 57,292.49 respectively. Nifty IT index also ended the session in the red territory at 35,377.35, down by 0.75%. Top gainers of the index include L&T Technology Services and Coforge. Top losers of the index comprise of HCL Technologies, L&T Infotech, TCS and Tech Mahindra.

Keep a close eye on these trending IT stocks on Tuesday, 22 March 2022:

Tata Consultancy Services – The company along with Google Cloud have announced that they have partnered with Fletcher Building to build a flexible, Google cloud-based enterprise platform to support long-term growth and innovation. With operations in New Zealand, Australia and the South Pacific, Fletcher Building has more than 25 different businesses across manufacturing, distribution, retail, home building, and major infrastructure projects.

Fletcher Building is partnering with Google Cloud and TCS to implement enterprise-grade, cloud capability to run its mission-critical enterprise workloads to enable greater uptime and flexibility, develop its customer data strategy to create an end-to-end understanding of customer needs and behaviours, and respond quickly to market changes and opportunities.

TCS will use its multi-horizon cloud transformation framework and extensive cloud experience to help Fletcher Building build a new future-ready digital core using Google Cloud.

Aurionpro Solutions - Company’s subsidiary SC Soft, has been awarded a project by the Department of General Services (DGS) to participate in the California Integrated Travel Project (Cal-ITP) for the supply and installation of the fare collection devices and automated fare collection (AFC) back office. SC Soft is one of the three firms chosen to provide the payment acceptance devices in the Cal-ITP, which will allow more than 300 plus transit agencies to procure software solutions through its mobility marketplace which offers transit operators links to a suite of code-compliant products.

Intrasoft Technologies – The company has recently filed draft papers for the rights issue of equity shares. The company would be raising to Rs 50 crore via the rights issue and the net proceeds of the same shall be, inter alia, used for investment in their e-commerce subsidiary, for funding their e-commerce business & growth initiatives.

Watch out action in these counters on Tuesday, 22 March 2022.