IT Stocks Rally Today: Nifty IT Jumps 3.8%; TCS, Infosys, Tech Mahindra, HCLTech & Coforge Among Top Gainers

Indian IT stocks staged a sharp rebound in Monday's trade, emerging as one of the strongest-performing sectors on Dalal Street. The rally came as investors rotated into software services companies after a broad sell-off in global artificial intelligence (AI) and semiconductor stocks prompted a shift away from AI infrastructure plays.

IT Stocks Rally Today as Nifty IT Index Soars 3.8%

The Nifty IT index surged 3.81%, or 1,122.85 points, to 30,564.75 as of 11:49 AM IST. The index opened at 29,825.40, touched an intraday high of 30,572.40, and slipped to a low of 29,820.05 before extending gains.

TCS, Infosys, Tech Mahindra, HCLTech and Coforge Lead IT Rally

TCS Share Price Today

Tata Consultancy Services (TCS) emerged among the top gainers in the sector. As of the latest trade, TCS share price climbed 5.07% to Rs 2,411.90, after opening at Rs 2,325.00. The stock hit an intraday high of Rs 2,412.90, compared with its previous close of Rs 2,295.60.

Tech Mahindra Share Price Today

Tech Mahindra share price was trading at Rs 1,634.80 at 12:08 PM IST on July 28, up 3.80% from the previous close. The stock opened at Rs 1,599.00, touched an intraday high of Rs 1,634.00, and a low of Rs 1,595.80.

HCLTech Share Price Today

HCLTech share price stood at Rs 1,337.30 at 12:09 PM IST, rising 3.19%. The stock opened at Rs 1,301.00, hit an intraday high of Rs 1,342.00, and traded above its previous close of Rs 1,295.90.

Infosys Share Price Today

Infosys share price was trading at Rs 1,114.60 at 12:10 PM IST, gaining 3.28% over the previous close. The stock opened at Rs 1,097.00 and climbed to an intraday high of Rs 1,115.80, extending gains alongside the broader IT rally.

Coforge Share Price Today

Coforge share price surged 9.26% to Rs 1,670.00 at 12:10 PM IST. The stock opened at Rs 1,570.00, touched an intraday high of Rs 1,680.00, and remained among the top gainers in the IT sector after reporting 1.1% organic growth and announcing $691 million in fresh order wins during the quarter.

Coforge Stock Jumps After Strong Order Wins and Steady Organic Growth

Coforge received an additional boost after reporting 1.1% organic revenue growth for the first quarter, while its acquisition of Encora also contributed to overall growth.

The company further announced fresh order wins worth $691 million during the quarter, taking its total executable order book to approximately $2.23 billion. The strong deal pipeline reinforced investor confidence in the company's medium-term growth prospects, helping the stock outperform the broader IT index.

Why Are IT Stocks Rising Today?

Indian IT stocks rallied after investors shifted away from global AI infrastructure and semiconductor companies, which came under heavy selling pressure amid concerns that massive AI investments may not deliver expected returns. Weakness in global chipmakers prompted investors to rotate towards relatively stable technology services companies.

Unlike semiconductor firms, Indian IT companies generate most of their revenue from software services, cloud computing, consulting and digital transformation rather than manufacturing AI chips or data-centre infrastructure. This has made the sector appear less vulnerable to the recent sell-off in AI-related stocks.

Market participants are also awaiting the US Federal Reserve's policy decision later this week. Any indication of stable interest rates and improving corporate technology spending in the US could provide further support to Indian IT companies, which derive a significant portion of their revenue from North America.

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