Mid-cap IT stocks rise high, on the back of Indo-US nuclear Co-operation: Four out of the top 10 gainers from BSE’s A group today were from the mid-cap IT segment viz. VisualSoft, Mastek, iGate and Rolta.

My recently recommended Scrips MRO TECH Ltd & California Software Company Ltd closed with decent gains:

Agro Dutch Industries Ltd closed in the Postive after the news came out that the company is on the verger of completion of the Can Making plant by March 2007:

Mid caps close at 5017.30 up 43.7 and Small caps rise to 6717.28 up 51.84 points:

Crude at 62.38 per barrel:

My recommended picks Nova Petro, Landmarc Leisure Ltd and Nagpur Power & Industries Ltd hit the buyer freeze today:

A host of mid-sized IT firms surged today. The top gainers were Orient Info (up 20% to Rs 22.25), Zensar Tech (up 13% to Rs 237), VisualSoft Tech (up 11% to Rs 77.75), Aztec Software (up 8% to Rs 174.50), Infotech Enterprises (up 7% to Rs 328.50), 3i Infotech (up 6.6% to Rs 185), Helios & Matheson Information Technology (up 6% to Rs 138), Rolta India (up 6% to Rs 248.20), Mastek (up 6% to Rs 347), iGate Global Solutions (up 5.8% to Rs 329), R Systems International (up 5.6% to Rs 186), CMC (up 3.9% to Rs 644), Aftek Infosys (up 3.5% to Rs 51.40), Hexaware (up 3.3% to Rs 186), Polaris Software (up 3% to Rs 165), Kale Consultants (up 3% to Rs 120), and NIIT Tech (up 2.4% to Rs 281). A selective rally has been witnessed in mid-cap IT stocks over the past few days/weeks. Consider this. From Rs 513.05 on 12 December, Nucleus Software has surged 34.6% to current Rs 691.05. Polaris is up 35.7% from Rs 121.55 of 30 November. iGate Global Solutions has risen 36.5% from its recent low of Rs 240.85 of 12 December. Infotech Enterprises has witnessed a sustained rise over the past few months. IT companies are witnessing robust demand environment as offshore outsourcing is gaining strength. `We believe that the benefits of the robust demand environment would also trickle down to mid-cap IT companies especially niche service providers and product companies’, notes Emkay Share & Stock Brokers in a recent report. Global IT services spend is estimated to grow at a compounded annual growth rate of 5.7% over 2005-10 to $589 billion, according to International Data Corporation. With increased acceptance of global delivery model, offshoring of IT services is expected to grow at a faster clip of 25% to 30% plus CAGR over the next five years. [From Internet]

Best wishes,

Suman Mukherjee

India.

www.sumanspeaks.blogspot.com