Tech Mahindra Soars 8%, Boosting Market Cap by Rs 11,000 Crore Following Strong Q2 Earnings
Tech Mahindra shares surged over 8% on Friday, adding approximately Rs 11,000 crore to its market capitalization. This spike followed the company’s announcement of a 32.74% increase in consolidated net profit for the September quarter. The stock was trading at Rs 1,781.50 on the BSE and Rs 1,779.90 on the NSE around 12:30 PM.
The company’s consolidated net profit attributable to its owners rose to Rs 1,585.6 crore for the July-September quarter of FY27, compared to Rs 1,194.5 crore in the same period last year. Revenue from operations also saw a 15.6% increase, reaching Rs 16,180.2 crore, up from Rs 13,994.9 crore in Q2 FY26. The growth was attributed to strong volume increases, cost savings, and favorable currency movements. In addition, Tech Mahindra’s board announced a 1:1 bonus share issue to celebrate the company’s 40th anniversary, marking its first bonus issue in 11 years.
IT Shares Lift Benchmarks
The rise in technology stocks helped domestic equity benchmarks recover from a sluggish start. This rebound followed a strong session on Thursday, where both benchmarks recorded their largest single-day gains in four months. Analysts noted that the recovery was driven by strong quarterly results from individual companies, despite a global sell-off in AI-linked stocks.
Ankur Punj, managing director of Equirus Wealth, stated that the market is experiencing a sharp rebound, primarily due to the resurgence in IT stocks. However, concerns about high crude oil prices and rising US producer prices continue to weigh on investor sentiment. Brent crude was trading around $105 per barrel on Friday. Of the 16 major sectors, 11 were in the green, with the IT index rising by 3%. Other major technology stocks also saw gains, with Infosys up nearly 4%, TCS gaining 3.26%, and HCLTech rising over 1%.
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