The NIFTY IT index opened 1.6% higher on Friday morning and extended the gains to 2.7%, becoming the top sectoral gainer.
All the companies from the NIFTY IT index were trading in green on Friday morning with Infosys (+4.7%), Mphasis (+3.8%), Wipro (+3.1%), LTIMindtree (+2.6%) and Tech Mahindra (+2.4%) being the top five gainers at 9:45 am.
The Infosys ADR on the New York Stock Exchange jumped 10.4% higher on Wednesday after the company raised its topline guidance for the FY26. IT stocks have been one of the top losers in 2025 as sectoral headwinds on H1-B visas and rough economic conditions in the US soured the investor sentiment.
Infosys Q3FY26 results
The company reported 9% YoY jump in revenue at ₹₹45,479 crore from ₹41,764 crore in the same period last year. The constant currency revenue jumped 1.7% YoY and 0.6% sequentially. At the operating level, the company’s adjusted operating margins remained largely unchanged at 21.2% vs 21.3% in the Q3FY25. In line with other sectoral peers, the company also took a hit on provisioning of ₹1,289 crore for new labour codes, which led to 2.2% decline in the bottom line. After adjusting for the labour code expenses, the operating profit for the quarter jumped 8.2% YoY to ₹9,644 crore, and net profit jumped 12% YoY to ₹7,625 crore.
Moreover, the company’s shares will remain in focus owing to its revised revenue guidance for FY26 from 2-3% to 4-5%. Following the earnings and revised guidance, the Infosys ADR soared 10.4% on Wednesday, but erased some gains in Thursday’s trading session by 2.7%.
After strong results, global brokerages like CLSA, Jefferies and HSBC posted positive notes on the company’s strong overall demand commentary and outlook for BFSI and energy vertical.
Wipro Q3 results today
After Infosys, Wipro Ltd will report its quarterly earnings on Friday. The consensus expectations indicate flat topline growth for the quarter. Additionally, the company is also expected to post a muted bottom-line performance owing to the new labour code expenses.