Tech stocks appear to be back with a bang with the Rs 12,750-crore dividend bonanza announced by TCS for its shareholders seeming to have worked wonders for almost the entire IT pack, with the CNX IT index jumping by over 170 points at the close today.

While TCS touched a new 52-week high, the positive mood gripped smaller IT companies such as MindTree as well.

MindTree touched a new 52-week high (adjusted to its recent bonus issue), at one time gaining a little over 10 per cent before shedding some of the gains.

TCS shares zoomed to a new 52-week high of Rs 2,540 on the NSE, before easing to Rs 2,530.15. The share had gained Rs 66.40 at the close. The 'TCS effect' gripped other IT counters including MindTree, Mphasis, Wipro, HCL Tech, Infy and Tech Mahindra as well, with all of them making handsome gains.

MindTree shares, opening at Rs 901, shot up to a new 52-week high of Rs 996 before edging down to Rs 961, a gain of Rs 60.30 or 6.69 per cent, at the end of trading. The company had recently come out with a 1:1 bonus issue and the new 52-week high of Rs 996 was adjusted to the bonus issue.

Mphasis was up by Rs 11 to Rs 457.10, Wipro gained Rs 15.15 to close at Rs 560.10, eClerx was up by Rs 19.90 to Rs 1,125, HCL Tech shot up by Rs 18.55 to Rs 1,526.60, Tech Mahindra closed at Rs 2,138.60, a gain of Rs 29.45, and Infosys jumped by Rs 42.30 to Rs 3,243 at the end of the day.

While 16 of the CNX IT shares ended trading in the green, four closed in the red. Persistent Systems alone suffering an appreciable drop by Rs 23.65 to Rs 1,252.50. The CNX IT had gained 174.25 points.

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