The Indian stock market started the day on a firm footing, with TCS, Infosys, Tech Mahindra, and HCL Tech stocks leading the Sensex gains. By mid-morning, the Sensex had risen 258 points (0.3%) to 82,185, while the Nifty advanced 65 points to 25,173.
Among IT majors, Infosys led the rally, gaining 2.11% to ₹1,486.80, followed by TCS at ₹3,016.30 (+1.43%), Tech Mahindra at ₹1,454.00 (+1.08%), and HCL Tech at ₹1,442.40 (+0.61%).
This uptick reflects renewed investor focus on the IT sector as it heads into the Q2 FY26 earnings season, with companies set to report their quarterly performance over the coming days.
Main News: IT Stocks Gain Ahead of Q2 Results
The IT sector’s momentum today comes ahead of TCS kicking off the Q2 results on October 9, followed by HCL Tech on October 13.
These earnings reports are expected to provide insights into how major IT firms are navigating global demand, project execution, and client spending trends.
Key highlights of the market today include:
- Infosys: ₹1,486.80, up 2.11%
- TCS: ₹3,016.30, up 1.43%
- Tech Mahindra: ₹1,454.00, up 1.08%
- HCL Tech: ₹1,442.40, up 0.61%
The gains suggest that investors are positioning ahead of quarterly results, particularly in BFSI and hi-tech verticals, which have shown consistent activity.
Company Details: IT Sector Snapshot
The IT majors continue to operate in a challenging environment, balancing global tech spending trends with domestic business growth.
- TCS: Set to report Q2 FY26 results first. Revenue growth is expected to be modest, with margins holding near 24.5%, slightly affected by wage increases and utilization changes.
- HCL Tech: Will follow with Q2 results on October 13. Both companies’ quarterly updates will be closely watched for insights on project ramp-ups and deal execution.
- Tech Mahindra: Navigates muted telecom spending, contributing to relative underperformance.
- Infosys: Maintaining steady growth despite global IT spending challenges.
Despite short-term gains today, IT stocks have lagged broader market trends over the past year.
Performance Over the Past 12 Months
The relative weakness of IT majors is visible when compared with broader indices:
- TCS: Down ~29%
- Infosys: Down ~24%
- Tech Mahindra: Underperformed amid telecom slowdown
- HCL Tech: Down ~19%
- Nifty 50 Index: Up 0.53%
These figures underline the challenges IT companies have faced, despite today’s momentum, highlighting the impact of global technology spending headwinds.
Summary
In today’s market action, TCS, Infosys, Tech Mahindra, and HCL Tech stocks stood out as Sensex gainers. The gains ahead of the Q2 FY26 earnings season reflect cautious optimism among investors tracking the IT sector.
While these IT majors have underperformed over the past year, today’s uptick underscores market attention on earnings reports, project execution, and client demand trends. For investors following the stock market today, these companies remain key players in India’s technology landscape.
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