Three IT stocks to watch out for on 5 April

Yesterday, Nifty IT index relatively underperformed broader markets, gaining merely 0.27%.

Yesterday, domestic equity markets witnessed one of its best sessions on account of the surprise announcement of the transformational merger of HDFC with HDFC Bank to create a financial giant. Headline benchmark indices Sensex and Nifty registered gains of more than 2% each.

On the contrary, Nifty IT index relatively underperformed broader markets gaining merely 0.27%. Top gainers of the index include Coforge, L&T Infotech, Mindtree and HCL Technologies. Top losers comprise Infosys and Mphasis.

Keep a close eye on these trending IT stocks on Tuesday, 5 April 2022:

Tata Consultancy Services – The company has announced that it has helped Stellantis, a world-leading automaker and mobility provider, transform the customer experience journey with a more streamlined and personalized sales and service experience across channels. The automaker, whose brands include Fiat, Jeep, RAM, Peugeot, and Citroën, wanted to modernize its legacy customer relationship management applications that needed the flexibility to respond to changing business models. Stellantis chose TCS as its strategic partner to drive this transformation and reimagine customer engagement using the Salesforce platform.

TCS helped more than 1,000 dealers in Brazil and Argentina migrate from the old CRM platform that supported customer care processes to an omni-channel platform based on Salesforce, using its contextual knowledge and experience gained over similar successful customer care and recall outreach transformations, carried out for Stellantis in North America and Europe. The platform reimagines the 360-degree customer experience journey and provides insights into each customer's needs, recurrence, and history. TCS’s platform has helped Stellantis improve customer communications, anticipate demands, and offer personalized experiences.

Take Solutions – The company’s Board of Directors in its meeting held on Friday, April 1, 2022, approved the re-appointment of Srinivasan HR as the Managing Director of the company with effect from April 1, 2022, for an additional term of three years, subject to the approval of the shareholders.

HCL Technologies – The company has informed the exchange that it has completed the acquisition of a 100% stake in Starschema Kereskedelmi és Szolgáltató Korlátolt Felelősségű Társaság, a limited liability company incorporated in Hungary, effective April 2, 2022.

Watch out for these counters on Tuesday, 5 April 2022.

Also read: Stocks to Buy Today: 5 Best Shares to Buy on 05-Apr-22