Infosys jumps as much as 4.79% as TCS, Wipro and HCL Tech gain over 2% on 29 July after Q1 results
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India's Tier-1 IT services firms reported Q1 FY26 results that drove a sector-led risk-on rotation, lifting the Nifty IT index as investors favored software exporters versus higher-valuation tech segments. Results showed solid YoY revenue growth and large deal wins, but continued pressure from subdued discretionary spend, elongated deal conversions, and mixed QoQ profitability. Near-term impact is largely idiosyncratic earnings and valuation repricing within Indian equities.
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India’s top IT services firms—TCS, Infosys, Wipro and HCL Tech—reported results for the April–June quarter (Q1 results 2026). Infosys rose as much as 4.79% in a single session, while TCS posted net profit of ₹13,349 crore (+5% YoY) on revenue of ₹72,275 crore (+14% YoY) even as profit slipped 3% sequentially. Shares of all four companies gained more than 2% intraday on 29 July. The moves reflected a stock-specific rally driven by quarterly earnings.
