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IT shares in demand after Apple's blockbuster Q1 show (13:59, 25 Jan 2012)

Rolta India (up 2.57%), MphasiS (up 2.18%), iGATE Patni (up 1.89%), Tech Mahindra (up 1.75%), TCS (up 1.55%) and Infosys (up 1.34%), edged higher.

The BSE IT index was up 1.18% at 5,635. It outperformed the Sensex, which was up 0.52% at 17,083.82.

The BSE IT index had underperformed the market over the past one month until 24 January 2012, falling 1.88% compared with the Sensex's 7.99% rise. The index had also underperformed the market in past one quarter, sliding 1.10% as against 0.33% rise in the Sensex.

US-based Apple Inc reported on Tuesday that its profit for the first quarter more than doubled. Apple said its net income for the period rose 118% to $13.06 billion, or $13.87 a share, compared with net income of $6 billion, or $6.43 a share, a year earlier. Revenue rose 73% to $46.33 billion, from $26.74 billion a year ago.

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