Global Markets
Home›Global Markets›India›Infosys leads gains as Indian IT stocks rally after Q1…
Infosys leads gains as Indian IT stocks rally after Q1 results
Infosys shares rose as much as 4.79% on the day, while TCS, Wipro and HCL Tech were each up more than 2% intraday.
Indian IT stocks rose on Wednesday following Q1 results for the April to June period, with Infosys leading the move, as investors rotated toward software exporters amid concerns about elevated AI spending and richer valuations in other technology segments. The Nifty IT index also emerged as the best-performing sector for the session.
Infosys shares jumped as much as 4.79% during the intraday trade. TCS, Wipro and HCL Tech gained more than 2% each on 29 July, according to the report.
The market focus remains on whether spending is translating into results, with commentary noting discretionary technology spending stays subdued and deal conversion cycles remain elongated, even as AI-led productivity starts to change IT services economics. The outlet said investors are watching execution, not just order inflows.
TCS posted consolidated net profit of ₹ 13,349 crore for the quarter, up 5% year on year but down 3% sequentially, and revenue from operations rose 14% year on year to ₹ 72,275 crore. The report also said TCS booked deals worth $9.5 billion in the quarter, including an AI-led transformation contract with SKF, and that its AI business reached an annualised revenue run rate of $2.6 billion.