Nifty IT index hits 10-month high; LTTS zooms 15% on Wednesday; here's why
Tata Consultancy moved higher in a quarterly results development.
· Business Standard Mkts
Thus far in October, the Nifty IT index has rallied 16% as TCS, Tech Mahindra, Wipro, Infosys and Mphasis surged in the range of 18-23% amid Q2 earnings cheer.
The analysis
Tata Consultancy reported movement of 15%, 16% and -23%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +1.0% on the day at ₹2,502.60, and has returned +2.9% over three months. It sits 25% below its 52-week high. The it sector has moved -3.1% over the same period, so Tata Consultancy is running 6.0 points ahead of its peers.
With Tata Consultancy, Tech Mahindra and Wipro all implicated, this reads as a IT-level move rather than a company-specific one, which is the more durable kind of signal.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- 5 of the 5 companies named are in IT, so the story reads across that sector rather than for one company.
- On the day, 4 of 5 are higher: Wipro leads at +4.3% and Mphasis trails at -1.4%.
- Over three months: Tata Consultancy (TCS) +2.9% against IT -3.1% (6.0 points ahead); Tech Mahindra +7.3% against IT -3.1% (10.4 points ahead); Wipro +6.4% against IT -3.1% (9.5 points ahead); Infosys +2.6% against IT -3.1% (5.7 points ahead).
- At least 25% below the 52-week high: Wipro (27%) and Infosys (30%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Tata Consultancy (TCS)TCS · IT | ₹2,502.60 | +1.0% | +22.0% | +2.9% | -24.7% | 0.5× | — |
| Tech MahindraTECHM · IT | ₹1,790.80 | +1.2% | +17.5% | +7.3% | -2.4% | 0.7× | — |
| WiproWIPRO · IT | ₹198.31 | +4.3% | +25.1% | +6.4% | -27.3% | 1.3× | — |
| InfosysINFY · IT | ₹1,185.00 | +3.4% | +19.2% | +2.6% | -29.9% | 0.8× | — |
| MphasisMPHASIS · IT | ₹2,525.60 | -1.4% | +17.2% | +7.6% | -14.5% | 1.3× | — |
IT
1M +5.2% · 3M -3.1%
Tata Consultancy (TCS), Tech Mahindra, Wipro, Infosys, Mphasis
Prices as of 30 Oct 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
In this story
Related coverage
Q2 October dividend champions: Infosys, Colgate, HUL, CPCL, Coal India | Big payouts - amount, record date
TCS, Infosys, HCL Tech: Anthropic revenue soars 14-fold in H1 2026 - Can Indian IT stocks benefit from AI boom?
Jefferies Cautious On IT: TCS Rated Underperform, Infosys Hold After $10 Billion FPI Outflow
Dividend, stock split, bonus record date alert 2-8 Nov week: Infosys, Mazagon Dock, Coal India, Sanofi and other shares
HAL, Kotak Bank, Tech Mahindra, Sona BLW Precision: Top Diwali 2026 Picks by Axis Securities