Wednesday, 30 September 2026Updated 5m ago
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Market move▲ Bullish for TCS

TCS, Wipro, other IT stocks rebound up to 6%, snapping 8-day losing streak. Why is Jefferies cautious?

1 source · first seen 11:51 30 Sept · updated 11:51 30 Sept

The brief

Written from 1 report · check the source before you trade
  • The Nifty IT index rose nearly 3%, snapping an eight-session losing streak
  • TCS, Wipro and Coforge shares rebounded up to 6%
  • Jefferies remains cautious, the report says
  • The rebound lifts Indian IT stocks, though Jefferies’ caution tempers the sector outlook

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IT services25 todayTCS₹2,032.40 · 11 todayWipro₹156.79 · 12 todayCoforge₹1,722.00 · 2 todayJefferies6 today

Linked by the tag Coforge

6 stories this week
  1. 30 SeptIT stocks rally up to 5% ahead of Accenture results despite Kotak’s muted Q2 outlookMarket move · 2 sources · Coforge, Mphasis, TCS and Persistent Systems gained up to 5%
  2. 28 SeptCoforge appoints Akhil Gupta as Chairperson for five-year termLeadership · 2 sources · Coforge appointed Akhil Gupta chairperson for a five-year term
  3. 28 SeptHow mid-sized IT firms are turning AI cost cuts into new revenue1 source · LTM, Coforge and Hexaware are helping clients cut costs as AI automates traditional IT work
  4. 26 SeptAfter O.P. Bhatt, Coforge NRC chair D.K. Singh resigns amid board tensionsLeadership · 1 source · Coforge refuted D.K. Singh’s claims as “unfounded” and an “afterthought”
All Coforge stories →
Part of a developing story4 updates over 3 days

Indian IT stocks’ September sell-off and rebound

The IT sector fell 26.54% year-to-date and 17.4% over 12 months, while Nifty IT lost more than 11% in September against a 6% fall in the Nifty 50. Infosys slipped below ₹1,000 and Wipro hit a six-year low; Citi cut its TCS target price and maintained a Sell rating.

Wednesday, 30 September

  1. You are here
    TCS, Wipro, other IT stocks rebound up to 6%, snapping 8-day losing streak. Why is Jefferies cautious?

Tuesday, 29 September

  1. Nifty IT cracks 11% in Sept; Infy, Wipro, Tata Elxsi trade at 52-week lows
  2. 3 sources
    Indian IT stocks extend sell-off, with Infosys below ₹1,000 and Wipro at a six-year low

Monday, 28 September

  1. IT Stocks In Focus: TCS, Mphasis Defy Nifty IT Weakness; Citi Cuts TCS Target Price, Maintains 'Sell'

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1 report · earliest 11:51
Economic TimesTCS, Wipro, other IT stocks rebound up to 6%, snapping 8-day losing streak. Why is Jefferies cautious?11:51