Infosys, TCS, HCL Tech, Tech Mahindra Jump By Up To 4%: Why Are IT Stocks Rising Today?

Infosys, TCS, HCL Tech, Tech Mahindra Jump By Up To 4%: Why Are IT Stocks Rising Today?

IT companies are the top performers in the Indian stock markets today amid hopes of an early India-US trade deal and increased buying on the back of valuation comfort. Infosys surged by nearly 4%, HCL Tech was up by 2.8%, Tech Mahindra rose 1.97%, and TCS gained 1.2%.

Among the midcap IT companies, MPhasis jumped 2.44%, Persistent was up by 1.96%, and Coforge rose 1.5%.

US President Donald Trump said he spoke with Prime Minister Narendra Modi on Tuesday, with their conversation focused largely on trade. “We talked about a lot of things, but mostly the world of trade," Trump told reporters in the Oval Office. Trump added that energy was also part of the discussion, saying Modi assured him that India would be limiting its oil purchases from Russia.

According to Mint citing three people aware of the matter, the India-US trade deal is expected to reduce American tariffs on Indian imports to 15% to 16% from 50%.

Why Is Infosys Top Gainer Today?

Promoters and members of the promoter group of Infosys Ltd, including its iconic founders N.R. Narayana Murthy, Sudha Murty, and Nandan Nilekani, have chosen not to participate in the company's Rs 18,000-crore share buyback programme. The IT major informed stock exchanges about their decision on Wednesday, October 22.

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As per the company's exchange filing, “In this regard, the Promoter and Promoter Group of the Company have expressed their intention of not participating in the Buyback vide their letters dated September 14, 2025, September 16, 2025, September 17, 2025, September 18, 2025 and September 19, 2025."

The decision of Infosys' promoters and co-founders to stay away from the Rs 18,000-crore buyback indicates that they are not looking to reduce their long-term stake in the company. It reflects confidence in Infosys' growth prospects and financial stability, as promoters typically refrain from tendering shares when they believe in the company's future value. However, their non-participation will slightly increase their relative ownership percentage once the buyback is completed, since the total number of outstanding shares will decrease.

Source: News18
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