Stock Market News Today Live Updates: Nifty Gains Above 24,150, Sensex Rallies 700 Points; IT Stocks Surge, Led By TCS After Q1 Results

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• The NSE Nifty 50 rose as much as 0.86% to 24,168.80
• The BSE Sensex rose as much as 0.9% or 706 points to 77,447.71.
   

The Indian rupee opened higher against the US dollar. The local currency appreciated as much as 14 paise to 95.23 against the greenback.

• Nifty 50 rose 0.68% to 24,124.70, up 161.90 points in pre-market trade.
• Sensex gained 0.85% to 77,395.63, rising 653.81 points.
• Both benchmark indices indicated a positive start to the session.

• TCS reported Q1 revenue of Rs 72,275 crore, up 2.23% year-on-year.

• Net profit fell 2.68% to Rs 13,349 crore, while EBIT declined 3.09% to Rs 17,317 crore.

• EBIT margin came in at 23.95%, down 131 basis points from 25.27% a year ago, impacted by wage hikes.

• Constant currency revenue growth stood at 0.4%, in line with estimates.

• The company added 9,279 employees during the quarter, the highest net headcount addition in 15 quarters.

• Annualised AI revenue rose 13% to $2.6 billion from $2.3 billion in the previous quarter and accounted for 8.5% of annualised revenue.

• Total deal wins stood at $9.5 billion, compared with estimates of $10 billion.

• The Consumer business was the weakest segment, declining 4% quarter-on-quarter.

• TCS said Manufacturing and Life Sciences are expected to improve in Q2.

• Regional market growth was led by India.

Multiple brokerages cut target prices on TCS after its June-quarter results, while maintaining differing views on the stock.

• Axis Capital maintained Buy and cut its target price to Rs 2,500 from Rs 2,520.

  • The brokerage said growth in BFSI and Hi-Tech offset weakness in the Consumer segment.
  • It said management commentary points to broader improvement in Q2 FY27.
  • Axis Capital noted that hiring and wage hikes were the strongest since FY23.

• Goldman Sachs maintained Buy and reduced its target price to Rs 2,370 from Rs 2,410.

  • It described the quarter as subdued but in line with expectations.
  • The brokerage said TCS expects demand improvement from the September 2026 quarter.
  • It added that headcount additions suggest no material AI-led disruption to the business model.

• Jefferies maintained Underperform and slashed its target price to Rs 1,800 from Rs 2,275.

  • The brokerage cited subdued revenue growth and soft bookings despite a large deal win.
  • It said elevated hiring could weigh on margins and expects around 4% EPS CAGR over FY27–FY29.

• Citi maintained Sell and cut its target price to Rs 1,825 from Rs 1,965.

  • It said international revenue was largely flat sequentially.
  • Citi expects demand to improve during Q2 as technology spending resumes.
  • The brokerage said sluggish growth remains a key factor for valuations.

• Asian markets opened higher on Friday as investors tracked signs of renewed diplomatic engagement between the US and Iran.
• South Korea’s Kospi rose 3.36%, while Japan’s Nikkei 225 gained 1.46%.
• Australia’s ASX 200 slipped 0.07% in early trade.
• The gains came as investors assessed the possibility of easing tensions in the Middle East.

• Brent crude traded near $76 per barrel after declining more than 2% in the previous session.
• West Texas Intermediate (WTI) crude hovered below $72 per barrel.
• Oil prices steadied after a volatile week as investors assessed whether diplomatic efforts could prevent further escalation in the Middle East.
• Markets also continued to monitor developments around the Strait of Hormuz and their impact on energy supplies.

• GIFT Nifty traded at 24,105.50, compared with Thursday’s Nifty 50 close of 23,962.80.
• The early indicator was about 143 points higher than the previous close.