Shares of Tata Consultancy Services (TCS), Infosys, Wipro and Coforge among others led a rebound in Indian IT stocks on Friday, helping benchmark indices recover after a sharp selloff in the previous session.
The Nifty IT index rose 3.3 percent after declining for four consecutive sessions, as investors focused on TCS' September quarter results, brushing aside concerns over the US government's reported move to suspend several Indian IT companies from the PERM programme.
All the 10 constituents of the index were trading in the green.
TCS shares surged 5.4 percent after the country's largest IT services company by revenue reported an acceleration in AI-related revenue and growth in its international business.
Devarsh Vakil, head of prime research at HDFC Securities, said the results indicated a "gradual improvement in growth momentum" despite an unchanged macroeconomic environment and muted discretionary spending.