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While most IT stocks have remained under pressure for over a year amid sector-specific and macroeconomic headwinds, Oracle Financial Services Software (OFS) has emerged as a notable outperformer. OFSS share price has surged 50% year-to-date (YTD) and a little over 52% in the last six months.
On the other hand, the Nifty IT index has crashed 26%, while the benchmark Nifty 50 has declined nearly 8% year-to-date.
On Friday, 10 July, the IT stock rose almost 4% to hit a 52-week high of ₹11,538 in intraday trade on the NSE.
On a monthly scale, the stock has been in the green since April this year. So far in July, the stock has gained more than 7%.
(This is a developing story. Please check back for fresh updates.)