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The stock has jumped sharply on the bourses on Monday even as other mid-cap stocks suffered. On the BSE, it gained 9.76 per cent at Rs 264.25 with 1.67 lakh shares changing hands.

On the NSE, the stock closed at Rs 264.95 with a gain of 11.25 per cent.

According to market men, after the recent sharp fall, the valuation of the stock has become attractive and the company is also likely to post decent numbers for the latest quarter.

And they also reckon that the negative impact of the sub-prime mortgage turmoil might have receded. Apart from negative sentiment surrounding the mortgage crisis in the US, it may be recalled that GreenPoint Mortgage, one of iGate’s key clients had shutdown its operations in August. The company is to announce its July-September earnings on October 10.

K.S. Badri Narayanan

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