India Stocks: Indian shares set to open higher; TCS in focus after revenue beat

Muthoot Microfin

10/07/2026 03:35

    July 10 (Reuters) - Indian shares were set to open higher on Friday, likely led by IT stocks after Tata Consultancy Services reported quarterly revenue above estimates, while easing oil prices and firmer Asian markets were also expected to support investor sentiment.
GIFT Nifty futures GIFc1 were trading at 24,117.5 as of 8:03 a.m. IST, indicating the Nifty 50 .NSEI could open above Thursday's close of 23,962.80.
IT stocks .NIFTYIT will be in focus after Tata Consultancy Services TCS.NS, India's top software services exporter, beat June-quarter revenue expectations, helped by stronger spending from banking clients and a weaker rupee.
CEO K. Krithivasan said on a post-earnings call that he was "optimistic" about a turnaround in technology spending by manufacturing and life sciences clients in the September quarter, while a recovery in the consumer business would depend on geopolitics.
Both the Nifty and the BSE Sensex .BSESN rose about 0.3% on Thursday after a 2% slide on Wednesday, as investors assessed the potential impact of the escalating Middle East conflict.
Foreign portfolio investors snapped a buying streak, with outflows of 5.33 billion rupees ($55.88 million) on Thursday, according to provisional data from the NSE.
Domestic institutional investors remained net buyers, purchasing shares worth 20.58 billion rupees.
Other Asian markets rose on Friday, led by chip and AI firms, tracking an uptick in technology shares on Wall Street overnight. MKT/GLOB
Brent crude LCOc1 traded little changed near $76 a barrel after falling 2.2% in the previous session. O/R
The latest Middle East flare-up has kept investors cautious, though sentiment improved after a U.S. official said on Thursday that Washington remained committed to a resolution with Iran and that technical talks were continuing.
        
STOCKS TO WATCH 
** Mahindra and Mahindra MAHM.NS says production rose to 110,796 units in June, up 30% YoY from 85,232 units a year earlier    ** Anand Rathi Wealth ANAA.NS posts a rise in June-quarter revenue and profit 
** Muthoot Microfin MUTO.NS says assets under management (AUM) grew 18% YoY as of June 30
** Havells India HVEL.NS enters battery energy storage segment through a strategic collaboration with Pixii AS


($1 = 95.3800 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Subhranshu Sahu)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))