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TCS, Infosys, HCLTech, Wipro Surge Up To 4 Percent: Why Are IT Shares Rising?
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News18•09-10-2026, 09:36
TCS, Infosys, HCLTech, Wipro Surge Up To 4 Percent: Why Are IT Shares Rising?
- •Indian IT stocks traded higher on Friday, with the Nifty IT index rising 2.86% to 28,530.70 despite US regulatory concerns.
- •Tata Consultancy Services led large-cap gains, rising nearly 4% following strong Q2 results reporting a 14.9% year-on-year rise in net profit.
- •Hexaware Technologies surged 11% after announcing a multi-year partnership with Anthropic to integrate Claude into its AI platforms.
- •The rally occurred despite the US government temporarily suspending major tech firms from the PERM labour certification programme.
Key Questions Answered
Indian IT stocks rose on October 9, driven by positive Q2 results from TCS and a multi-year partnership announcement between Hexaware Technologies and Anthropic, despite fresh uncertainty from US PERM labour certification suspensions.
TCS reported a 14.9% year-on-year rise in consolidated net profit to Rs 13,884 crore, an 11.2% increase in revenue to Rs 73,188 crore, an operating margin of 24%, and a total contract value (TCV) of $9.6 billion.
The US government temporarily suspended major IT firms like TCS, Infosys, Wipro, and HCLTech from the PERM labour certification programme, which could complicate permanent residency processes for employees and create uncertainty around talent retention and staffing.
