TCS, Infosys, Wipro And HCLTech Shares Rally Up To 5% As OpenAI Revenue Disclosure Eases AI Fears And H-1B Visa Concerns Shift

Indian information technology (IT) shares gained sharply on 9 October 2026 as several developments shaped investor sentiment. Tata Consultancy Services Limited (TCS) shares rose over 5%, their strongest gain in a month. Mphasis, LTM, Coforge, Persistent Systems and HCLTech gained 3-4%.

The key development keeping Indian IT stocks in focus was the announcement regarding H-1B visas on Thursday evening.

Here is how some major IT stocks traded on the National Stock Exchange (NSE) at 10:46 am on Friday, 9 October 2026:

• TCS shares: ₹2,193.50, up 5.66%

• Infosys shares: ₹1,027.50, up 3.06%

• Mphasis shares: ₹2,372, up 2.98%

• LTM shares: ₹4,057.90, up 3.65%

• Coforge shares: ₹1,875.90, up 3.40%

• Persistent Systems shares: ₹5,619.50, up 2.77%

• HCL Tech shares: ₹1,219.30, up 3.60%

• Wipro shares: ₹164.22, up 3.69%

US H-1B Visa Developments Keep IT Stocks In Focus

The US Department of Labour announced restrictions affecting applications under the Permanent Labour Certification Program. It also said it would not accept or process new applications from companies including Infosys, Wipro, TCS, HCLTech and Cognizant.

The National Association of Software and Service Companies (NASSCOM) responded that Indian IT firms had reduced their reliance on H-1B visas and expanded local hiring in the US. American depositary receipts (ADRs) of Infosys and Wipro had fallen as much as 4% before recovering. Wipro’s ADR ended unchanged, while Infosys’ ADR finished 1.1% higher.

OpenAI Revenue Disclosure Shifts AI Sentiment

The recovery in Infosys and Wipro ADRs was potentially supported by a disclosure from OpenAI. OpenAI’s annualised revenue run rate was reported at $50 billion, below the previously reported $68 billion. The disclosure may have helped ease some concerns about AI’s impact on traditional software services. Indian IT stocks had declined 30-35% year to date (YTD), with AI-related disruption among the factors weighing on the sector.

The news also coincided with losses in US AI and chip stocks. On Thursday, Nvidia fell 3%, Oracle dropped more than 6%, and CoreWeave declined 8%. AMD, Broadcom, Intel and Super Micro recorded losses of around 4-5%. The weakness in these technology counters also kept the Microsoft share price and broader US technology stocks in focus.

TCS Q2 FY2026-27 Results Add Another Market Catalyst

Investors are also assessing TCS’s latest quarterly results. TCS is India’s largest IT services provider.

TCS reported September-quarter results after market hours on Thursday. Its AI business contributed more than 10% of revenue, while total deal wins reached $9.6 billion, within the $9-10 billion range analysts had expected.

These results provided another factor for investors to assess alongside visa-related developments and shifting sentiment towards AI. The Nifty IT index had resisted broader market weakness for much of the previous session before slipping towards the close.

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