Archive · 9 Oct 2026
TCS Results Lift IT Stocks Despite US Green Card Curbs
Tata Consultancy Services, or TCS, reported stronger results for the July-to-September quarter.
After the news, TCS shares and many other Indian technology shares went up.
The Nifty IT index, which tracks technology companies, also rose.
TCS reported revenue of ₹73,188 crore and profit of ₹13,884 crore.
Reports described the profit increase as 4% compared with the previous quarter and 15% compared with a year earlier.
The rally happened even though the US had suspended several technology companies from a green card-related labor program.
TCS said the US action would not significantly change its operations or hiring plans there.
Analysts, however, expected demand growth across the IT sector to remain cautious.
Indian IT shares rallied on Friday, October 9, after TCS reported better-than-expected September-quarter results.
TCS rose as much as 5.46%, while the Nifty IT index gained more than 3% in morning trading.
TCS reported September-quarter revenue of ₹73,188 crore; its profit was ₹13,884 crore, reported as up 4% sequentially and 15% year on year.
Other IT shares, including Infosys, Wipro, Mphasis, HCL Technologies and Tech Mahindra, also advanced.
Despite US suspensions from the employment-based green card program, TCS said the move would not materially affect its US operations or workforce plans.
- Who
- Tata Consultancy Services and other Indian IT companies, including Infosys, Wipro, Mphasis, HCL Technologies and Tech Mahindra.
- What
- IT shares rallied after TCS reported September-quarter results; the rally came amid US restrictions affecting the employment-based green card program.
- When
- Friday, October 9, following TCS's Thursday earnings report.
- Where
- Indian stock markets; the US program restrictions also affected major technology companies.
- Why
- TCS's results lifted investor sentiment, while TCS said the US restrictions would not materially affect its operations or workforce plans.
Reasons for optimism
Reasons for caution
Near-term market outlook
Reasons for optimism
TCS's better-than-expected results lifted sentiment, and IT shares rose broadly.
Reasons for caution
Motilal Oswal expected soft demand and no quarter-on-quarter growth acceleration across its coverage, with softness potentially continuing into Q3.
US green card program restrictions
Reasons for optimism
TCS said the suspensions would not materially affect its US operations, workforce strategy or client engagements, and reaffirmed its hiring plan.
Reasons for caution
The US government suspended several technology companies from the PERM program amid investigations into alleged visa fraud and employment practices.
Sector growth and margins
Reasons for optimism
Axis Securities said large-deal ramp-ups, outcome-based engagements and AI-led spending could partly support growth.
Reasons for caution
Axis Securities expected moderate growth and mixed margins, citing wage increases, AI investment, deal ramp-ups and acquisition costs.
- TCS share move
- Rose 5.46% to ₹2,189.40, reaching an intraday high of ₹2,194.90.
- Nifty IT
- Gained 3.39% to 28,675.65 in one report; another cited a gain of more than 3% in morning trading.
- TCS September-quarter revenue
- ₹73,188 crore; reported as up 1.3% quarter on quarter and 11.2% year on year.
- TCS September-quarter net profit
- ₹13,884 crore; reported as up 4% sequentially and 15% year on year.
- Operating margin
- 24%, reported as steady.
- TCS contract value
- Total contract value was reported at $9.6 billion.
- TCS US hiring plan
- The company reaffirmed plans to hire 15,000 additional employees in the United States over five years.
- TCS PERM applications
- TCS said it had made fewer than 10 applications over the previous two years.
