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TCS, Infosys, HCLTech, Wipro Jump Up To 3
TCS, Infosys, HCLTech, Wipro Jump Up To 3.7%: Why Are IT Stocks Rising Today, July 10?
Shares of Indian information technology (IT) companies rallied sharply in early trade on Friday, July 10, with Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro and Tech Mahindra leading the gains. The Nifty IT index surged over 3% in early trade, making it the best-performing sector on the NSE.
On the BSE Sensex, IT stocks were the top gainers in the opening trade. TCS rose as much as 3.71%, while Infosys gained 3.58%, Tech Mahindra climbed 3.57%, HCLTech advanced 3.22%, and Wipro also traded firmly in the green as positive sentiment spread across the sector.
The rally was primarily triggered by TCS’ June-quarter earnings, which exceeded Street expectations on both revenue and profitability.
India’s largest IT services company reported a 4.61% year-on-year increase in consolidated net profit to Rs 13,349 crore for the quarter ended June 2026. Revenue from operations rose nearly 14% to Rs 72,275 crore, supported by healthy demand from banking, financial services and insurance (BFSI) clients, favourable currency movements and strong deal execution.
Analysts also welcomed the company’s $9.5 billion total contract value (TCV) during the quarter, including an $800 million AI-led transformation deal with SKF, indicating that enterprises continue to invest in large-scale technology transformation despite macroeconomic uncertainty.
Apart from the earnings beat, investors drew confidence from TCS management’s commentary, which signalled improving demand in the coming quarters.
TCS Managing Director and CEO K Krithivasan acknowledged that the June quarter remained challenging due to geopolitical tensions and project delays, but said the company expects client spending to improve in the second quarter.
“We are still optimistic that the demand will resume sometime in Q2 primarily because our customers have a significant amount of pent-up technology backlog to be completed," Krithivasan said during the post-results earnings call.
He added that rising enterprise investments in artificial intelligence, cloud modernisation, cybersecurity and platform simplification continue to create long-term growth opportunities for the company.
TCS reported annualised AI revenue of $2.6 billion, up 13.6% sequentially, reflecting growing adoption of AI-led solutions by global enterprises.
The company also announced strategic partnerships with Anthropic and Mistral to strengthen its AI ecosystem. TCS Chief Operating Officer Aarthi Subramanian said the IT major is expanding its AI talent pool and plans to deploy more engineers directly alongside clients to accelerate AI transformation programmes.
The continued growth in AI-related business has strengthened investor confidence that Indian IT companies are well positioned to benefit from the next wave of enterprise technology spending.
Since TCS is widely regarded as the bellwether for India’s $315-billion IT services industry, its earnings often set the tone for the rest of the sector.
A strong quarter from TCS has raised expectations that peers such as Infosys, HCLTech, Wipro and Tech Mahindra could also deliver resilient earnings despite global macroeconomic headwinds.
Market participants believe that improving deal pipelines, stable client spending in key verticals such as BFSI and accelerating AI adoption could support a gradual earnings recovery for the sector over the coming quarters.
With the Q1 earnings season now underway, investors will closely monitor upcoming results from other major IT companies to gauge whether the positive momentum extends across the industry.
Source: News18
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