$INFY

Indian IT stocks, including TCS, Infosys, HCLTech, and Tech Mahindra, surged 11.7% in the week ending October 16, their biggest gain in 18 years, driven by strong earnings and investor interest. Tech Mahindra and HCLTech reported better-than-expected quarterly results. The rally contrasted with a 4.5% drop in the Nasdaq Composite, as US AI stocks faced a selloff. The Nifty IT index outperformed broader indices, but challenges like automation and competition persist.

Indian equity markets rose on Friday, led by IT majors like TCS and Infosys, and telecom giant Bharti Airtel. The BSE Sensex gained 0.56% to 74,729.27, while the NSE Nifty50 rose 0.65% to 23,146.15. Strong corporate earnings and macroeconomic indicators supported the rally. Tech Mahindra surged 8.48% on strong profit growth.

The U.S. Department of Labor (DOL) suspended PERM applications for Adobe, Cognizant, Infosys, Tata Consultancy Services, Wipro, HCL Technologies, and Capgemini. The action follows investigations into alleged fraud and worker exploitation. No fixed dates or legal basis were announced, but the suspension may last up to 180 days. Employers are advised to review compliance and prepare for audits.

The US Department of Labor halted PERM labor certification processing for eight tech firms, including Microsoft, Adobe, and Indian IT giants like Infosys and Wipro, citing potential fraud. This suspension may delay green card applications for workers, primarily affecting Indian nationals, who comprise 71% of successful H-1B applicants. While the financial impact on companies may be limited, the policy could disrupt workers' plans and long-term US-India economic ties.

Indian IT stocks rose on Friday, with Tech Mahindra up 7.11%, Infosys 3.71%, TCS 3.19%, and Wipro 4%, driven by strong quarterly results and reassessment of global AI-linked stocks. The Nifty IT index gained 2.8%. Investors focused on earnings performance and potential deal improvements, despite broader market mixed trends.

Infosys (INFY) shares rose 3.49% to ₹1,148.70 on AI optimism, with high trading volumes. The stock is still below its 52-week high of ₹1,728.00. Analysts' price targets range from ₹1,179.98 to ₹1,322. The rally is part of a broader IT sector surge driven by AI demand recovery hopes.

Infosys shares rose 5.49% as investors favor Indian IT stocks, driven by strong quarterly results from peers and optimism around AI. CEO Salil Parekh's comments on AI growth prospects added to the rally. The company's solid financial base supports AI investments, but softer revenue outlook and pricing pressure may challenge future gains.

The Global Organization of People of Indian Origin (GOPIO) urged President Trump to maintain the PERM green card program, citing potential impacts on skilled foreign workers. The U.S. Department of Labor suspended PERM applications from eight tech companies, including Cognizant, Infosys, and Tata Consultancy Services, due to alleged violations. GOPIO warned of potential worker relocations and called for clear procedures.

Infosys Ltd (INFY) shares rose 1.75% to ₹1,106.10 on October 15, 2026, driven by a broader IT sector rally. The company's market cap is ₹4.48 trillion, with a P/E ratio of 14.94. Key drivers include strong peer earnings, favorable currency tailwinds, and AI growth optimism. Infosys is set to report Q2 FY27 earnings on October 23, 2026, with analysts projecting a 16% upside potential.

Indian IT stocks rallied on 15 October, driven by strong quarterly results, AI optimism, and a weaker rupee. HCLTech led gains with a 3.5% rise, while TCS, Tech Mahindra, Infosys, and Wipro also advanced. The Nifty IT index climbed 2.5%, extending its 3-day rally to 9%. HCLTech reported Q2 revenue of $3.72B, exceeding estimates, and raised FY27 guidance. TCS's net profit rose 15%, with AI revenues accounting for over 10% of total revenue.