IT stocks have been the big gainers in the past few days on the back of good earnings. IDC India has written an interesting note on the IT sector, where they expect global spending to grow at a CAGR of around 4 percent over the next five years. CNBC-TV18 spoke to Sharath Srinivasamurthy, Research Director for Enterprise Solutions & ICT practices at IDC India.

L&T Tech Services’ stock surged over 13 percent on Thursday on the back of a strong set of numbers for the quarter. It is currently trading at around Rs 3,372 on the NSE. The engineering services arm of the Larsen and Toubro Group, on Wednesday, reported an 84 percent jump in its net profit to Rs 216.2 crore for the quarter ended June 30, 2021. Its revenue from operations grew 17 percent to Rs 1,518 crore in the first quarter of FY22 from Rs 1,294.7 crore in the year-ago period. The company has also raised its FY22 guidance to 15-17 percent growth from 13-15 percent earlier.

FedEx Corp will make a $100-million equity investment in Indian e-commerce logistics startup Delhivery as part of a long-term commercial agreement, the US delivery firm said on Friday.

An 18-year-old is set to join Amazon founder Jeff Bezos on his flight to space on July 20.  With this trip, he will also become the youngest human to travel to space.