Shares of Tata Consultancy Services (TCS) on Thursday hit a fresh new high of Rs 2,921.35, Nifty IT has touched its all time high on Wednesday, closed low 158 points at 24,009 on Thursday. 
BSE Sensex closed higher over 500 points at 46,973 after touching a high of 47,053.40 and a low of 46,539.02, while Nifty traded in a range bound between 13,626.90-13,771.75.
Last month, TCS announced the acquisition of Postbank Systems AG (PBS) from Deutsche Bank which would result India’s largest IT services firm to scale and strengthen its growth outlook in Germany. With this deal, 1500 employees of PBS would be transferred to TCS. The Tata Group’s company depends on strategic partnership with Prudential Financial (PFI), under this it would be acquiring staff & select assets of Pramerica systems (PFI unit in Ireland).
On Wednesday, Nifty IT index hit a fresh new lifetime high after IT major Infosys and Wipro announced large deal wins which could further accelerate the momentum of IT sector. Analysts believe that this large deal wins by Infosys and Wipro will result in their favour and thus, positive on IT sector. The shares of TCS rose 35 per cent since the starting of 2020, so far and the share prices have jumped over 8 per cent since the beginning of December.