Shares of software services exporters rally with Tata Consultancy Services Ltd hitting a record high, on hopes earnings will look up in fiscal 2014 on the back of an improving global economy.

Gains come a day after industry body, the National Association of Software and Services Companies (Nasscom), forecasts exports from the software services sector will grow 12-14 percent in 2013/14 to as much as USD 87 billion.      

Infosys Ltd shares gain 1.21 percent, while HCL Technologies Ltd rises 3.53 percent.

TCS shares gain 2 percent, earlier hitting an all-time high of 1,441.65 rupees, after Nielsen Holdings NV, best known for its TV ratings, increased the size of its contract with India's largest software service exporter to USD 2.5 billion from USD 1 billion.

"This reinforces TCS's positioning further in the large deal market and improves confidence in FY14 growth," HSBC said in a note dated on Tuesday.     


Latest News  from Business News Desk