Shares of Tata Consultancy Services Ltd., Infosys Ltd., LTIMindtree Ltd. and other IT companies rallied on Friday after TCS reported broadly in-line first-quarter revenue, while a sharp rebound in US AI and semiconductor stocks further lifted sentiment.
LTIMindtree led the intraday gains, rising as much as 4.39% to Rs 4,021.95. Hexaware Technologies climbed up to 4.38% to Rs 561.60, while TCS advanced as much as 4.11% to Rs 2,132.
Infosys shares rose as much as 3.9% to Rs 1,091, while Tech Mahindra gained up to 3.77% to Rs 1,478. Coforge climbed 3.68% to Rs 1,522.60 and HCL Technologies rose 3.46% to Rs 1,189.40.
Among other IT stocks, Tata Technologies gained as much as 3.32%, KPIT Technologies rose 3.27% and Wipro advanced 2.58% during the session.
The rally followed TCS' results for the first quarter of FY27. India's largest IT services company reported revenue broadly in line with Street expectations, although profit and operating margins declined sequentially.
TCS' consolidated net profit fell 2.7% quarter-on-quarter to Rs 13,349 crore, while revenue rose 2.2% to Rs 72,275 crore. EBIT declined 3.1% to Rs 17,317 crore and the EBIT margin narrowed 130 basis points to 24%, largely reflecting the impact of wage hikes. The company also announced an interim dividend of Rs 12 per share.
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