Reasons behind current rally in Indian IT stocks

Recently Indian IT stocks rallied significantly just after TCS results . Reason is pent up demand of IT stocks because buying in IT stocks was almost neglected and it was expected that in this sector results will be very poor. When TCS results of Q1 24 were declared and analysed it was conceived that growth was muted and the numbers was not so bad . IT stocks TCS and Infosys were oversold and were at the position of value buying .One fact was more, a differential between level of NASDAQ and value of Indian IT stocks had been created. These situations leads to heavy buying in Indian IT stocks and gives rise a strong rally in Indian IT stocks specially in TCS and Infosys  The above perception has some how been changed after Infosys numbers.