The benchmark indices were trading with sharp gains today, October 9. The Nifty was hovering around 22,500 points, or 1.2% higher, after plunging to an 18-month low in the previous session. The Sensex gained 800 points, or 1.1%, and was around 72,392 points.
The information technology stocks traded higher by midday today, after Tata Consultancy Services’ earnings for the second quarter were broadly in-line with expectations. Further, these stocks remain in focus after the US government on Thursday, October 8, suspended several Indian IT majors from its key labour programme.
Here are the top movers and shakers of the day so far:
The TCS share price surged 6% in early trade, before giving up some of the gains. The IT major’s revenue increased 1.3% quarter-on-quarter and 11.2% year-on-year to Rs 73,188 crore and net profit was at Rs 13,884 crore, up 15% YoY and 4% sequentially.
Moreover, TCS said the suspension of the US government’s Permanent Labor Certification Program (PERM) is unlikely to affect its workforce strategy or customer engagements.
The HCL Tech share price was up 2% and the Tech Mahindra share price rose 1.5%.
The Colgate Palmolive (India) share price soared nearly 8% intraday today. The stock has declined nearly 11% in the last three months and around 17% in the last one year.
The ITC share price jumped over 4% intraday today. The sharp upward move comes after the stock lost nearly 4% in the previous session. The stock was in focus after GQG Partners-linked fund sold its stake in the company through a block deal worth Rs 9,395 crore on Thursday.
The Anand Rathi Wealth share price slipped over 4% by midday today after opening higher. The stock is in focus as it will declare its earnings for the second quarter of financial year 2027 (Q2FY27) today.
The Thermax share price rose over 6% intraday today. Brokerage Kotak Securities has upgraded its recommendation on the stock.
The stock has declined nearly 10% in the last one month and 31% in the last three months.