IT Stocks Rise Ahead of Q2 Results: Infosys, TCS, Tech Mahindra Lead Gains

Shares of India’s major IT companies traded higher on Wednesday, October 8, with Tata Consultancy Services (TCS), Infosys, Tech Mahindra, and HCL Technologies among the top gainers on the Sensex. The rally came ahead of the sector’s Q2 FY26 earnings, which investors expect will provide crucial guidance on demand recovery and global technology spending trends.

At 12:00 PM on October 8, the Sensex rose 258 points (0.3%) to 81,732.59, while the Nifty 50 advanced 65 points to 25,037.90, supported by strong buying in large-cap IT counters.

IT Stocks Lead the Rally

Among the top performers, Infosys led the gains with a rise of around 2% to ₹1,487.20, while TCS followed with a 1.65% increase to ₹3,022.80. Tech Mahindra climbed about 1% to ₹1,453.20, and HCL Technologies advanced nearly 1% to ₹1,445.30.

The uptrend in IT shares was driven by investor optimism surrounding upcoming quarterly earnings announcements. Market participants are anticipating that strong deal momentum, margin stability, and commentary on digital transformation spending could boost investor sentiment after months of sluggish sectoral performance.

Earnings Calendar and Key Expectations

TCS is set to announce its Q2 FY26 results on Thursday, October 9, while HCL Technologies will declare its earnings on Monday, October 13, marking the start of the IT results season.

TCS’s guidance on client demand and deal pipelines, including its $640 million contract with Scandinavian insurer Tryg and updates on the BSNL project, which is likely to ramp up in Q3.Infosys and Tech Mahindra’s upcoming earnings are also being tracked for signals on pricing discipline, operational efficiency, and performance in key verticals such as BFSI, telecom, and manufacturing.

Performance Trends and Sector Outlook

Despite the positive sentiment in recent sessions, large-cap IT stocks have lagged the broader market over the past year. TCS shares have fallen nearly 29%, while Infosys has dropped around 24%. Tech Mahindra has been impacted by subdued telecom and enterprise spending, and HCL Technologies has declined about 19% during the same period.

In comparison, the Nifty 50 index has inched up by 0.53% year-on-year, underscoring the relative underperformance of the IT sector amid a cautious global demand environment.

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Conclusion

IT stocks gained ground on Wednesday as traders positioned themselves ahead of the Q2 FY26 earnings season. The focus now shifts to TCS’s results on October 9 and HCL Technologies’ report on October 13, which are expected to set the tone for the entire IT pack.

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