IT stocks in demand: Tata Consultancy Services (TCS), Tech Mahindra, LTM, HCL Technologies and Mphasis gain 3 per cent each in intra-day deals on Friday.
The stock price of LTM hit high of ₹4,715.50 in Monday's intra-day deals, its highest level since April 22, 2026. The stock has bounced back 34% from its 52-week low hit on June 30, 2026.
Technology stocks witnessed some profit-taking on Friday following a 19% rally in the Nifty IT index this July.
The Nifty IT index rebounded over 21 per cent after hitting its 52-week low of 25,699.10 on July 1, 2026.
However, despite recovery from lows, the Nifty IT index underperformed the market by falling 22 per cent, as against a 7.2 per cent decline in the Nifty 50 thus far in CY2026.
LTM expects AI revenue to grow faster than its traditional IT services business as enterprise adoption accelerates, with demand rising for deployment of advanced AI models from Anthropic and OpenAI
LTIMindtree posted a strong Q1FY27 performance, with improving margins, healthy deal wins and management guiding for stronger growth than FY26 despite macroeconomic uncertainties
At 12:44 PM on Monday, the Nifty IT index was the top gainer among sectoral indices, up 4.24 per cent, as compared to 0.01 per cent rise in the Nifty 50.
The L&T Group company will embed Claude into its AI platform, train thousands of certified engineers and establish a dedicated Centre of Excellence as enterprises ramp up generative AI adoption
Stocks to watch today: HCL Tech, DMart, IndiGo and oil marketing companies are among key stocks to track today amid results announcement and rising crude oil prices.
LTM said its Q1 performance reflected progress in executing its AI-centric strategy, with AI revenue at about $150 million on a quarterly run-rate basis
At 09:38 AM on Friday, the Nifty IT index was the top gainer among sectoral indices, up 1.8 per cent, as compared to a 1 per cent rise in the Nifty 50.
In the past four trading days, IT index outperformed the market by soaring 9 per cent, as against a 2 per cent gain in the Nifty 50.
As per data, the Nifty IT Index has corrected nearly 42 per cent from its all-time high of 46,089, recorded in December 2024, and is now trading close to its April 2023 lows.
Domestic Institutional Investors have increased stake in 34 Nifty 500 stocks such as - Adani Power, Paytm and Eternal among others - quarter-after-quarter after March 2024, shows shareholding data.
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LTM's AI-led 'Lakshya 2031' strategy won analysts' backing with nrokerages seeing growth potential from Business AI, BlueVerse and Randstad integration.
IT stocks witnessed heavy selling pressure on Wednesday tracking overnight losses in technology shares in the US market. Indian ADRs cracked up to 8%.
Stocks to buy today: Vinay Rajani of HDFC Securities has recommended two stocks for today - LTM and JSW Cement.
CLSA found that most SaaS companies have either maintained or increased their revenue and margin guidance for the upcoming fiscal year and beaten consensus EPS