TCS commentary lifts Indian IT stocks to best day since early Nov

L&T Technology Services

10/01/2025 08:50

** India's IT index  .NIFTYIT  jumps 3.5%, only one of 13
main sub-indexes in green; benchmark indexes flat  .BO 
    ** Sub-index set for best session since Nov. 6, when Donald
Trump claimed victory in US presidential race
    ** TCS  TCS.NS , top IT firm, flags signs of discretionary
spending revival
    ** TCS's commentary boosting sentiment after years of
caution and uncertainty from bellwethers, says S Krishnakumar,
director at Lion Hill Capital
    ** Adds US economic strength and certainty of Trump at
political helm indicate higher client spending in US, a key
revenue geography for IT firms
    ** TCS jumps 6%, leading gains on 10-member IT index
    ** LTIMindtree  LTIM.NS  follows with 5% rise; L&T Tech
 LTEH.NS  and Coforge  COFO.NS  up 1.6%, the least on index
    ** IT index gained 22% in 2024 vs ~9% rise in benchmark
Nifty 50

 (Reporting by Ashna Teresa Britto and Hritam Mukherjee in
Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))