TCS jumps 3.8% as strong Q2 powers IT-led market rebound

Tata Consultancy Services shares jumped 3.8% on Friday, leading an IT-sector rally after the company reported September-quarter net profit of ₹13,884 crore, up 15% year-on-year, with revenue of ₹73,188 crore, up 11.2% — both slightly ahead of Street estimates.

The Nifty IT index was the best-performing major sectoral gauge, rising 3%, with HCL Technologies up 3.4% and Infosys 2.6%, as investors returned to technology stocks.

TCS reported annualised AI revenue of $3.1 billion, a $9.6-billion order book, and declared a ₹12 interim dividend with a record date of October 14. The company said the suspension of firms from the US Permanent Labor Certification Program was not expected to materially affect its workforce strategy.

Buying in heavyweights such as ITC and Apollo Hospitals also helped the Nifty 50 rise 1.30% on the day.