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Nifty IT Surges 3% As Strong HCL Tech Earnings Boost Indian Tech Stocks
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Moneycontrol•13-10-2026, 10:10
Nifty IT Surges 3% As Strong HCL Tech Earnings Boost Indian Tech Stocks
- •The Nifty IT index surged 3.03 percent to 29,208.20, emerging as the top sectoral gainer amid a global AI selloff.
- •TCS jumped 5.12 percent and HCLTech rose 3.70 percent, leading the rally among major Indian IT stocks.
- •HCLTech reported a consolidated net profit of Rs 5,132 crore for the September quarter, up 21.2 percent year-on-year.
- •HCLTech's advanced AI revenue surged 78 percent year-on-year to $219 million, driven by robust deal wins including a mega deal from Mercedes-Benz.
- •The broader market also gained support, with the Sensex up 605.16 points and the Nifty 50 rising 185.85 points.
Key Questions Answered
The Nifty IT index surged 3.03% following strong quarterly earnings from HCL Technologies, robust deal wins, and accelerating artificial intelligence revenue that boosted sector sentiment.
HCLTech reported a consolidated net profit of Rs 5,132 crore, which is up 21.2 percent year-on-year, alongside an 11.5 percent increase in revenue to Rs 35,620 crore. Furthermore, its advanced AI revenue surged 78 percent to $219 million, and it secured $3.24 billion in net new deal wins.
HCLTech raised the lower end of its FY27 revenue growth guidance from 1 percent to 2.5 percent while keeping the upper end at 4 percent. The company also maintained its operating margin guidance unchanged at 17.5 to 18.5 percent.
