Shares of IT stock Tech Mahindra surged 7% on Friday, October 16, making the IT stock the top gainer on the Nifty 50 index after the company reported strong September-quarter results for FY27 (Q2FY27).
The rally came amid a weak broader market, with the Sensex and Nifty trading around 0.2% lower. The Nifty IT index advanced nearly 2%, supported by gains across major IT stocks.
Tech Mahindra added as much as 7% to its day's high of ₹1,763.95 per share on BSE.
Infosys and Wipro rose over 3.5% each, while Tata Consultancy Services (TCS) gained around 3%. L&T Technology Services, Mphasis, LTIMindtree and HCL Technologies also traded higher, while Persistent Systems fell over 4% and Coforge declined.
Tech Mahindra shares are now around 5% below their 52-week high of ₹1,850, recorded in February 2026. The stock had touched a 52-week low of ₹1,304.25 in March.