Indian IT Stocks Rise on Strong Q2 Earnings and Dollar Strength
What happened
Indian IT stocks saw solid gains in morning trading on October 13, 2026, driving the Nifty IT index higher. This rally was supported by better-than-expected Q2 results from Tata Consultancy Services and HCL Technologies. HCL Technologies reported Q2FY27 revenue of $3.72 billion, exceeding analyst expectations, and noted total deal bookings reached $3.3 billion.
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Why it matters
The positive market movement was driven by the confluence of strong corporate earnings and the rise of the US dollar against the rupee. Since many Indian IT companies earn revenue in US dollars, the dollar's strength improves their topline revenue.
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Who's involved
- InfosysIndian multinational technology company whose stock gained during the trading session.
- Persistent SystemsIndia-headquartered technology company whose stock gained during the trading session.
- Tata Consultancy ServicesInformation technology consulting company that reported better-than-expected Q2 results.
- HCL TechnologiesInformation technology consulting company that reported Q2 results beating Street estimates.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Tata Consultancy ServicesSpeculative
Tata Consultancy Services might see its revenue and profit boosted by strong Q2 results and dollar strength.
- HCL TechnologiesSpeculative
HCL Technologies could see its revenue and profit boosted by strong Q2 results and dollar strength.
- Persistent SystemsSpeculative
Persistent Systems may benefit from sector momentum, potentially increasing its sales.
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The entities involved
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Infosys
Indian multinational technology company
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Persistent Systems
india-headquartered technology company
Nothing else this week.
Related events
- Infosys, HCL Technologies, Adani Enterprises, and Titan experienced mixed market performance on September 15, 2026, with some gains and sell-off pressures.
- A market sell-off is underway, causing steep declines in the shares of major IT service providers including Infosys, Wipro, HCL, Larsen & Toubro, and Bharti Airtel.
- Amidst the West Asia crisis, SBI Securities analyzed TCS's stock performance, noting that the crisis was affecting demand for the major IT service providers.
- Infosys, HCL Technologies, and Tata Consultancy Services are identified as major IT companies with high dividend yields.
- IT companies, auto manufacturers, and banks are listed on the Indian stock market, with market performance influenced by global cues like the rise in crude oil prices.