Technology Stocks trading higher in 2012

Technology Stocks trading higher in 2012Most technology counters have seen a decent gain in year 2012. With the recent rise in US dollar compared to Indian currency, the earnings reported by most technology companies will see positive impact.

The outlook for next two quarters is stable and with recent jobless data from US, the economic scenario has seen improvement over the past two weeks.

Many Indian technology counters are hovering around their 52-week high. Among major players, TCS closed at Rs 1230. The stock is near its 52-week high of Rs 1247. Wipro closed the day at Rs 448 (52-week high Rs 490). Patni Computer ended the week at Rs 471 (52-week high of Rs 502). Hexaware Tech touched 52-week high of Rs 109 on Friday.

Among other technology counters, Mindtree closed at Rs 456, Rolta at Rs 92, Infotech Enterprises at Rs 141 and Geometric at Rs 67.

Comparing P/E multiple among major technology counters, Wipro is ruling at P/E ratio of 23.58, TCS at 22.79, Infosys at 21.47 and HCL Technologies at 20.15.

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