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IT Shares Extend Gains For Day 2 In Volatile Trade; Key Drivers Behind The Rally

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IT Shares Extend Gains For Day 2 In Volatile Trade; Key Drivers Behind The Rally


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IT stocks extended their rally for a second consecutive session on Thursday, clearly outperforming a highly volatile broader market

IT Shares

IT Shares

IT Share Price: IT stocks extended their rally for a second consecutive session on Thursday, clearly outperforming a highly volatile broader market. While the benchmark indices, Sensex and Nifty 50, swung sharply in both directions through the day, the IT pack remained resilient.

The Nifty IT index was up about 1.5 percent in afternoon trade, building on its over 1 percent rise in the previous session. With gains spread over two days, the index has now climbed more than 2 percent.

All 10 constituents of the IT index were trading in the green. Coforge led the rally with a gain of 3.19 percent around 1:30 pm, while Persistent Systems followed with a rise of 1.96 percent.

Shares of Tata Consultancy Services were trading at ₹3,230.40 on the NSE, up 1.58 percent and at their highest level in nearly three months. The sharp move came after a report said OpenAI is in advanced talks with the company to set up a large-scale AI compute presence in India and jointly develop agentic AI products for enterprises.

Other IT heavyweights such as Mphasis, Tech Mahindra, HCL Technologies, Wipro and Infosys also advanced, rising as much as 2 percent.

3 key factors behind the rise in IT stocks

1) Weakening rupee: The rupee slipped 28 paise to a fresh record low of 90.43 against the US dollar in early trade. It opened at 90.36 and weakened further amid sustained foreign fund outflows. A softer rupee typically supports IT exporters, which earn a large part of their revenue in dollars, by boosting rupee-denominated earnings and margins.

2) Hopes of a US rate cut: Recent US macroeconomic data have kept expectations alive for a potential rate cut by the Federal Reserve next week. Lower interest rates usually support economic activity and corporate spending, including technology budgets. Stronger IT spending in the US, India’s largest export market for software services, directly benefits domestic IT firms.

3) Positive brokerage commentary: Motilal Oswal said the IT services sector may be nearing an inflection point, with stronger growth likely over the next 6–9 months. The brokerage expects a pickup in the second half of FY27 and broader adoption through FY28 as companies move from pilot projects to full-scale deployment. It also noted that sector valuations are at decade lows despite stable profitability.

Last week, the brokerage upgraded Infosys to “buy” from “neutral”, citing its ability to benefit from rising enterprise AI spending. Mphasis and Zensar were also upgraded to “buy”, while Wipro was revised to “neutral” from “sell”.

Motilal Oswal expects IT services growth to stabilise and strengthen by FY28 as cloud spending normalises. Despite the ongoing rebound, the IT sub-index is still down 12.7 percent on a year-to-date basis, underperforming the broader Nifty 50.

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Ministers urged to stick to ticket tout ban amid fears of delay

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Ministers urged to stick to ticket tout ban amid fears of delay



The Government has been urged to stick to its pledge to ban ticket touting amid concerns the policy will be left out of next month’s King’s Speech.

In November, the Government announced that new rules making it illegal to resell tickets for live events for profit would end the “industrial-scale” touting that has caused misery for millions of fans.

Ministers confirmed plans to make it illegal for tickets to concerts, theatre, comedy, sport and other live events to be resold for more than their original cost.

The Labour manifesto promised stronger protections to stop consumers being scammed or priced out of events by touts, who frequently use bots to buy tickets in bulk the moment they go on sale, which they can then sell on for huge mark-ups on secondary ticketing websites.

The proposed rules make it illegal for tickets to be sold at a price above the face value – defined as the original price plus unavoidable fees including service charges.

Service fees will be capped to prevent the price limit being undermined by platforms, which will have a legal duty to monitor and enforce compliance, and individuals will be banned from reselling more tickets than they were entitled to buy in the initial sale.

A host of globally renowned artists have backed the plan, including Radiohead, Dua Lipa and Coldplay.

Following a report in the Guardian that the minister responsible for the policy, Ian Murray, had told music industry groups not to worry if the measure was not part of the King’s Speech on May 13, the Government said it required new primary legislation that it was working to deliver at the earliest opportunity.

A Government spokeswoman said: “Ticket touts are a blight on the live events industry, causing misery for millions of fans.

“We set out decisive plans last year to stamp out touting once and for all, and we are committed to delivering on these for the benefit of fans and industry.”

The music industry and Which? raised concerns about the suggestion of any delay, as sites appeared to show touts selling tickets for the Radio 1 Big Weekend in Sunderland well above the two-ticket limit for buyers and at vastly inflated prices.

Annabella Coldrick, chief executive of the Music Managers Forum, said: “2026 was supposed to mark this Government moving ‘from announcements to action’ but we have little evidence of this to date.

“A ban on ticket touting was one of only two music-related commitments in the Labour manifesto, alongside fixing EU touring.

“These are widely supported, pro-growth measures that will deliver tangible benefits to the British public. However, if ticket resale legislation is not presented in the King’s Speech, it will have the opposite effect and continue to cost those constituents hundreds of millions of pounds a year.

“This Government needs to stand by its promises and get it done.”

Adam Webb, campaign manager at FanFair Alliance, said: “The Government has a big decision to make: will they ‘put fans first’ or not?

“Last November, ministers committed to ‘bold new measures’ to ban online ticket touting and support consumers.

“Enacting these measures should be a no-brainer but, if legislation is not presented in the upcoming King’s Speech, the cycle of industrial-scale exploitation will continue.”

Lisa Webb, consumer law expert at Which?, said: “The Government has promised to put fans first but, if this legislation is not included in the King’s Speech, the only ones celebrating will be the rip-off secondary ticketing websites and online touts.”



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Warner Bros shareholders approve Paramount’s $111bn takeover

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Warner Bros shareholders approve Paramount’s 1bn takeover



The approval came as Donald Trump is to attend a dinner with billionaire Paramount backers the Ellisons.



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France Ends Airport Transit Visa Requirement for Indian Travellers | Business – The Times of India

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France Ends Airport Transit Visa Requirement for Indian Travellers | Business – The Times of India


Good news for travellers: France scraps transit visa for Indian passport holders

France has lifted the airport transit visa requirement for Indian nationals with effect from April 10, the French Embassy in India announced on Thursday.Indian nationals holding ordinary passports are no longer required to obtain an airport transit visa when passing through the international zone of airports located on French territory during a layover en route to a third country.The change follows a decree amending the 2010 regulations on documents and visas required for the entry of foreigners into French territory. The decree was adopted and published in the French Official Gazette (Journal Officiel) on April 9, 2026.MEA welcomes the moveThe Ministry of External Affairs welcomed the announcement.“We welcome the announcement on the operationalisation of visa-free transit for Indian nationals transiting through French airports,” MEA Spokesperson Randhir Jaiswal said.He recalled that the removal of the transit visa requirement for Indian passport holders was agreed between Prime Minister Narendra Modi and French President Emmanuel Macron during their meeting in Mumbai in February this year.“The government of France has now operationalized this agreement,” Jaiswal added.Who benefitsThe measure applies to Indian nationals transiting through mainland France exclusively by air, remaining in the international airport zone without entering French territory.President Macron had announced during his visit to India in February that measures would be taken to ease travel for Indian nationals via France.

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What do you think is the main advantage of this visa policy change?

The updated procedures have been reflected on the France-Visas platform.



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