Indian IT Stocks Surge on AI Deals and Valuations Indian IT stocks experienced a significant rally on Monday, outperforming the broader market as the Nifty IT index reached its highest level since April 23. The surge was attributed to attractive stock valuations and recent AI-related partnerships, which have rekindled investor interest and prompted traders to build fresh long positions. This rebound followed a period of underperformance for the sector in 2026, with the Nifty IT index declining over 21% year-to-date compared to a 10.5% drop in the benchmark Nifty. The Nifty IT index closed at its strongest level in nearly two weeks, gaining 2.7% on Monday, while the broader Nifty fell 0.7%. Tech Mahindra, Infosys, and L&T Technology Services rose 3.7% each, while Persistent Systems gained 3.6%. Coforge and Oracle Financial Services Software advanced 2.6% and 2.1%, respectively. Analysts noted that Indian IT firms are aligning with American companies like Anthropic and OpenAI by securing contracts and partnerships, which investors perceive as promising. Gaurav Sharma, head of research at Globe Capital, highlighted that Wipro’s expanded Agentic AI partnership with ServiceNow and Coforge’s acquisition of Encora have alleviated concerns about AI-linked disruption. These developments have helped stabilize the sector after a period of uncertainty. Sharma also pointed out that large-cap IT stocks like TCS and Infosys are trading near 16-17 times Price-to-Earnings (PE), while midcap companies such as Coforge, Oracle, and Mphasis are at 20-30 times PE, making them attractive for investors. Technical analyst Jay Vora of Mirae Asset Sharekhan observed that open interest in large-cap IT stocks has doubled in recent months, indicating a buildup of short positions.#infosys #nifty_it #tech_mahindra #persistent_systems #l_t_technology_services
Stock market today (April 29, 2026): Sensex jumps 609 points, Nifty nears 24,200-Check top gainers and losers today India's benchmark equity indices, the Sensex and Nifty, surged nearly 1% on Wednesday, driven by bargain buying in consumer goods, automotive, and telecom sectors, alongside upbeat earnings reports and gains in Asian markets. Traders cited signs of potential de-escalation in geopolitical tensions as a key factor supporting investor sentiment. The 30-share BSE Sensex climbed 609.45 points, or 0.79%, to close at 77,496.36, with intraday gains reaching 1,095.60 points, or 1.42%, to touch 77,982.51. The NSE Nifty rose 181.95 points, or 0.76%, to settle at 24,177.65. Top gainers in the Nifty 50 included Tech Mahindra, which rose 3.68%, followed by Maruti Suzuki (+2.84%), Coal India (+2.77%), Reliance Industries (+2.63%), and Bharti Airtel (+2.41%). Sun Pharma and Nestle India also saw gains of over 1.7%. Conversely, the Nifty 50's top losers featured InterGlobe Aviation (-2.19%), Dr Reddy's (-1.84%), ICICI Bank (-0.86%), Bajaj Finserv (-0.84%), and Asian Paints (-0.63%). On the BSE Sensex, Tech Mahindra, Maruti Suzuki, Reliance Industries, Bharti Airtel, and Sun Pharma led the gains, while InterGlobe Aviation, ICICI Bank, Bajaj Finserv, Asian Paints, and HDFC Bank were among the top losers. Maruti's rise was attributed to its record annual net profit of Rs 14,679.5 crore for FY26, up 1.24% year-on-year, driven by a sales volume of over 24.22 lakh units and reduced GST rates. Asian markets showed mixed performance, with South Korea’s Kospi, Shanghai’s SSE Composite, and Hong Kong’s Hang Seng ending higher. Japanese markets were closed for a holiday. Analysts noted that strong corporate earnings and easing geopolitical concerns bolstered investor confidence.#nifty #india #maruti_suzuki #sensex #tech_mahindra
Tech Mahindra Q4 Preview: Margins Likely to Improve; Revenue Growth May Remain Muted Shares of Tech Mahindra are under close scrutiny ahead of its Q4FY26 results, scheduled for April 22. Analysts anticipate a stable revenue performance with modest growth, while margins are expected to show improvement. The company’s stock has exhibited mixed movements recently, closing at Rs 1,499.00 on April 21, reflecting a 0.36% decline for the day. Over the past month, the stock has gained 8.31%, and it is up 3.47% over six months. However, it has slipped 6.76% year-to-date, despite remaining 9.14% higher than a year ago. Revenue for the quarter is projected to remain largely unchanged in dollar terms, hovering around $161.6 crore, compared to $161 crore in the previous quarter. In rupee terms, revenue is expected to rise to approximately Rs 14,819 crore, a 3% increase from Rs 14,393 crore. The BFSI (banking, financial services, and insurance) and telecom sectors are anticipated to drive this growth, as they constitute significant portions of Tech Mahindra’s business. Operating performance is forecast to see marginal improvements, with EBIT estimated at Rs 2,022 crore, up 6.9% from the previous quarter. Margins are likely to rise to 13.6% from 13.1%, reflecting better cost management and efficiency. Net profit is projected to reach around Rs 1,453 crore, marking a 29.5% increase over the prior quarter. This growth is attributed to a lower base in the previous quarter, which was negatively impacted by labor code changes. Deal activity is expected to remain steady, with net new deal wins anticipated at approximately $1 billion for the quarter. The rupee’s movement during the period is also likely to have contributed to earnings support.#bfsi #tech_mahindra #telecom #q4fy26 #q3fy26
Anand Mahindra calls for India’s AI-driven HPM and laser defence push; invites startups to collaborate with iCreate Anand Mahindra, Chairman of the Mahindra Group and Tech Mahindra, has emphasized the urgent need for India to prioritize the development of indigenous, AI-enabled High-Power Microwave (HPM) and laser technologies as part of its air defence strategy. Speaking on Friday, he argued that reactive imports are no longer viable in the face of evolving threats, urging the nation to invest in self-reliant solutions. Mahindra also extended an invitation to startups specializing in next-generation defence technologies to collaborate with iCreate, a deep-tech startup incubator based in Gujarat. Mahindra highlighted the shifting dynamics of modern warfare, noting that low-cost drone swarms and economic efficiency are increasingly shaping battlefield outcomes. He stated, “For India, this is very pertinent. Importing solutions reactively isn’t a strategy. Building indigenous, AI-enabled HPM and laser capability early is.” He further stressed the importance of fostering innovation through faster procurement processes, patient capital, and institutional support for deep-tech startups to scale. The industrialist pointed out that traditional military approaches, reliant on conventional firepower, are becoming obsolete. He explained that cheap kamikaze drones, which cost a fraction of the interceptors used to neutralize them, pose a significant threat. “The aggressor doesn’t need to win. He just needs to keep the math working in his favour,” Mahindra noted, underscoring the need for cost-effective and scalable defensive systems. Mahindra also addressed the limitations of laser-based counter-drone technologies, which, while precise, are ill-suited for engaging large-scale drone swarms.#gujarat #mahindra_group #anand_mahindra #tech_mahindra #i_create
