TCS, Infosys rally up to 4%. Will Trump win be really good for IT stocks?
TCS, Infosys, HCL Tech and LTI Mindtree rallied up to 4% each on Wednesday as the likelihood of Donald Trump winning the US Presidential election looks high.
A full Trump sweep is seen as positive for equity markets globally and more so in India amid hopes of a favourable corporate tax regime alongside a low regulatory burden.
The market is expecting that Trump win would lead to a stronger dollar, which would be positive for Indian software services exporters.
Trump's expansionary fiscal policy – cutting corporate tax rate to 15% from 21% for domestic production – could also be positive for IT Services demand as it eases budgetary pressures, JM Financial's Abhishek Kumar said.
Also read | US election result: 4 likely scenarios and how it may impact stock market investors
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