Information Technology (IT) shares price movement
Shares of information technology (IT) companies continued their upward movement for the second straight trading day, with the Nifty IT index surging over 4 per cent on the National Stock Exchange (NSE) in Monday’s intra-day deals.
In the past two days, the Nifty IT index rallied 6 per cent after sector giant Tata Consultancy Services (TCS) and LTM reported stable June 2026 quarter (Q1FY27) earnings.
At 12:44 PM, 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. With today’s gain, the Nifty IT index has bounced back 14 per cent from its 52-week low of 25,699.10 touched on July 1, 2026.
TCS, HCL Technologies, Tech Mahindra, LTM and Infosys rallied in the range of 3 per cent to 6 per cent in today’s trading session.
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What’s driving TCS share price?
Share price of TCS surged 6 per cent to ₹2,199.90 on the NSE in intra-day deals, after India’s largest IT services player, on Monday announced the expansion of its collaboration with ABB, a global technology leader in electrification and automation, to transform the latter’s global network operations.
As part of the multi-million, multi-year deal, TCS will scale up its role from managing infrastructure and applications to delivering end-to-end global network operations through an integrated network-as-a-service model. The financial details of the deal were not disclosed.
ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future.
Over the past two decades, the TCS-ABB partnership delivered several transformational programmes that have strengthened ABB’s technology foundation. These include consolidating multiple Enterprise Resource Planning (ERP) systems into a unified SAP platform, accelerating cloud transformation and adoption. Together, these initiatives reflect a deep, outcome-driven partnership that continues to evolve with ABB’s business priorities, the company said.
Brokerages maintain ‘Buy’ rating on LTM
Share price of LTM soared 4.4 per cent to ₹4,215 after the company delivered a resilient quarter despite interim challenges with margins surprise and sustained deal momentum. The management reiterated that September quarter (Q2FY27) would be stronger than Q1FY27 and FY27 to be better than FY26 on both revenue and margins front, with strategic initiatives like Fit for Future (cost optimisation), AI-led pivot (BlueVerse) and New Horizons with large deal focus are driving both efficiency and growth. ICICI Securities in note said that on medium- to long-term, LTM targets doubling revenue by FY31, implying 15 per cent compound annual growth rate (CAGR) over FY26–31.
LTM management remains optimistic about the company’s growth prospects, driven by execution and deal pipeline. It anticipates further organic as well as inorganic growth. The recent acquisition with Randstad consists of three components, namely Tech business, outsourcing, takeover of its digital business in Europe and Australia. The execution has already started, and revenue will be seen from H2FY27. Analysts at Axis Securities remain positive on the long-term outlook, and has a ‘Buy’ rating on the stock with a target price of ₹4,560/share.
According to analysts at Nomura, LTM’s growth in Q1FY27 was led by Tech and Financial Services and top 5 accounts grew 4.5 per cent quarter-on-quarter in USD terms (ahead of +0.1 per cent at company level). This reflects return of growth in top accounts in each of these verticals. LTM noted that delay in procuring hardware for the Income Tax dept of the Central government due to the Middle East conflict had an impact on ramp-up of the project in Q1 but should start ramping up from Q2E, the brokerage firm said in Q1 result update with ‘Buy’ rating on the stock and target price of ₹4,400 per share. =============================================== Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.