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Market participants will track global developments, foreign institutional investors (FIIs) flows and further corporate earnings announcements for market direction.
IT stocks continued to attract buying interest for the third consecutive session.
At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 934.84 points or 1.30% to 73,730.45. The Nifty 50 index jumped 282.55 points or 1.25% to 22,901.75.
In the broader market, the BSE 150 Midcap Index rose 0.14% and the BSE 250 Smallcap Index declined 0.25%.
The market breadth was negative. On the BSE, 1,789 shares rose and 1,941 shares fell. A total of 209 shares were unchanged.
Brent crude futures declined $1.86 or 1.75% to $104.20 a barrel.
Earnings Today:
HDFC Life Insurance Company(up 1.74%), Jio Financial Services(up 0.30%), Nestle India(down 0.19%), Tech Mahindra(up 3.46%), Wipro(up 1.67%), HDFC Asset Management Company(up 2.59%), 360 ONE WAM(up 0.93%), Angel One(up 1.72%), Cyient DLM(down 2.73%), IIFL Finance(down 0.95%), Indian Bank(down 1.72%), Sri Lotus Developers and Realty(down 2.37%), L&T Finance(up 2.92%), Persistent Systems(up 0.17%), Polycab India(down 0.25%) and Tata Communications(down 1.65%) will declare their results later today.
Buzzing Index:
The Nifty IT index jumped 2.83% to 31,023.40. The index surged 9.43% in the three consecutive trading sessions.
Tech Mahindra (up 3.76%), Infosys (up 3.35%), Tata Consultancy Services (up 3.23%), LTM (up 2.98%), HCL Technologies (up 2.74%), Wipro (up 1.86%), Mphasis (up 1.62%), Persistent Systems (up 1.44%), Coforge (up 1.04%) advanced.
Stocks in Spotlight:
Leela Palaces Hotels & Resorts rallied 3.60% after reporting a 26.59% year-on-year increase in consolidated net profit to Rs 94.59 crore in Q2 FY27, compared with Rs 74.72 crore in Q2 FY26.
Om Power Transmission added 2.98% after the company received a turnkey contract worth Rs 101.56 crore from Uttar Gujarat Vij Company.
Tech Mahindra Ltd is up for a third straight session in a row. The stock is quoting at Rs 1633.2, up 3.68% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.69% on the day, quoting at 23005.5. The Sensex is at 74164.05, up 1.9%. Tech Mahindra Ltd has risen around 4.83% in last one month.
Meanwhile, Nifty IT index of which Tech Mahindra Ltd is a constituent, has risen around 5.94% in last one month and is currently quoting at 30171, up 2.14% on the day. The volume in the stock stood at 59.37 lakh shares today, compared to the daily average of 22.27 lakh shares in last one month.
The benchmark October futures contract for the stock is quoting at Rs 1620.6, up 3.12% on the day. Tech Mahindra Ltd is up 11.57% in last one year as compared to a 10.08% drop in NIFTY and a 13.27% drop in the Nifty IT index.
The PE of the stock is 38.67 based on TTM earnings ending June 26.
The development triggered concerns that SpaceX could emerge as a stronger competitor to traditional wireless operators by combining satellite connectivity with terrestrial mobile network capabilities. However, the extent to which the expansion could affect established telecom operators remains uncertain, given the infrastructure and regulatory requirements involved.
The weakness in global telecom stocks weighed on Tech Mahindra, which provides technology consulting, IT and network services to telecommunications companies. Communications is the company's largest revenue-generating vertical, accounting for 32.3% of revenue in Q1 FY27. Concerns over intensifying competition among telecom operators could raise questions about future technology spending, although the impact on Tech Mahindra's business remains uncertain.
Tech Mahindra is a leading global provider of technology consulting and digital solutions, serving enterprises across industries with a strong presence in telecom, enterprise, and digital transformation services.
On a consolidated basis, the company's profit after tax (PAT) rose 28.45% year on year (YoY) to Rs 1,465.1 crore in Q1 FY27 from Rs 1,140.6 crore in Q1 FY26. On a sequential basis, PAT increased 8.22% from Rs 1,353.8 crore in Q4 FY26. Revenue from operations rose 17.68% YoY and 4.22% quarter on quarter (QoQ) to Rs 15,711.9 crore in Q1 FY27 from Rs 13,351.2 crore in Q1 FY26 and Rs 15,076.1 crore in Q4 FY26.
Tech Mahindra has scheduled a board meeting on 15 and 16 October 2026 to consider a proposal for the issue of bonus shares, along with an interim dividend for financial year 2026-27.
The company said its board will also consider and approve the audited standalone and consolidated financial results for the second quarter and half year ended 30 September 2026. The financial results will be considered and declared on 15 October 2026.
Tata Consultancy Services Ltd rose 1.95% today to trade at Rs 2124.7. The BSE Teck index is up 0.59% to quote at 14471.03. The index is down 4.13 % over last one month. Among the other constituents of the index, Tech Mahindra Ltd increased 1.53% and Bharti Hexacom Ltd added 1.4% on the day. The BSE Teck index went down 15.74 % over last one year compared to the 11.14% fall in benchmark SENSEX.
Tata Consultancy Services Ltd has lost 5.99% over last one month compared to 4.13% fall in BSE Teck index and 3.85% drop in the SENSEX. On the BSE, 10301 shares were traded in the counter so far compared with average daily volumes of 2.13 lakh shares in the past one month. The stock hit a record high of Rs 3336.7 on 03 Feb 2026. The stock hit a 52-week low of Rs 1976 on 01 Jul 2026.
The proposal for bonus shares is subject to the board’s consideration and approval.
The board will also consider the declaration of an interim dividend for FY27.
Shares of Tech Mahindra were down 0.49% at Rs 1525.30 on the BSE.
Tech Mahindra Ltd rose for a third straight session today. The stock is quoting at Rs 1595.4, up 3.53% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.3% on the day, quoting at 23327.15. The Sensex is at 74671.32, down 0.15%. Tech Mahindra Ltd has dropped around 0.91% in last one month.
Meanwhile, Nifty IT index of which Tech Mahindra Ltd is a constituent, has dropped around 3.02% in last one month and is currently quoting at 28921.5, up 3.3% on the day. The volume in the stock stood at 19.34 lakh shares today, compared to the daily average of 18.42 lakh shares in last one month.
The benchmark September futures contract for the stock is quoting at Rs 1597.2, up 3.64% on the day. Tech Mahindra Ltd is up 4.17% in last one year as compared to a 7.58% fall in NIFTY and a 17.5% fall in the Nifty IT index.
The PE of the stock is 37.78 based on TTM earnings ending June 26.
Tech Mahindra Ltd dropped for a fifth straight session today. The stock is quoting at Rs 1559.1, down 0.31% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.52% on the day, quoting at 23655.6. The Sensex is at 75642.46, down 0.64%.Tech Mahindra Ltd has lost around 4.93% in last one month.Meanwhile, Nifty IT index of which Tech Mahindra Ltd is a constituent, has eased around 5.14% in last one month and is currently quoting at 29995.2, up 0.03% on the day. The volume in the stock stood at 6.68 lakh shares today, compared to the daily average of 21.86 lakh shares in last one month.
The benchmark September futures contract for the stock is quoting at Rs 1565.4, down 0.17% on the day. Tech Mahindra Ltd jumped 4.06% in last one year as compared to a 4.88% slide in NIFTY and a 14.9% fall in the Nifty IT index.
The PE of the stock is 38.3 based on TTM earnings ending June 26.