Indian IT Stocks Rally Up to 15% Led by Strong Q2 Earnings

Indian IT stocks surged on Wednesday with the Nifty IT index rising 2.6% to an intraday high of 32,348.25.

L&T Technology Services led the gains by surging up to 15% after reporting a September quarter net income jump of 66.8% year-on-year to ₹548.2 crore.

Global brokerage Jefferies raised target prices across large-cap IT firms by 14-18% while highlighting re-rating potential for Infosys and TCS.