Tata Consultancy Services drives rebound in Indian shares with strong quarterly results

Thermax: Thermax provides engineering solutions in energy and environment sectors, including process heating and cooling systems. Kotak Institutional Equities upgraded the stock to buy from sell, pointing to an improving margin outlook. The upgrade contributed to the company's strong performance in the rebounding Indian shares session. Anthropic: Anthropic is a global AI firm developing advanced AI models and solutions. Hexaware Technologies signed a multi-year partnership with the company, underscoring expanding AI collaborations in the Indian IT services space during the market recovery. Blue Star: Blue Star operates in the mechanical, electrical and plumbing market with a growing presence in room air-conditioners and related engineering services. UBS initiated coverage on the company with a buy rating, highlighting strength in its core MEP franchise and expansion opportunities. The stock responded positively to this assessment during the session's market rebound. Devarsh Vakil: Devarsh Vakil serves as head of prime research at HDFC Securities. He commented on TCS results as signaling gradual improvement in growth momentum despite unchanged macro conditions and muted discretionary spending, helping frame investor focus on IT earnings during the rebound. SBI Securities: SBI Securities is a brokerage offering research and trading services. It noted that Indian IT companies have reduced dependence on H-1B visas through expanded local hiring and offshore activities, suggesting a neutral to positive long-term impact from recent US policy changes. HDFC Securities: HDFC Securities is a brokerage and research firm providing equity research and investment services to clients. Its prime research head contributed analysis on TCS quarterly performance that reinforced positive sentiment around IT sector results amid the market rebound. Hexaware Technologies: Hexaware Technologies delivers IT services and digital solutions with a focus on emerging technologies. The company announced a multi-year partnership with the global AI firm Anthropic, which supported its share price climb during the IT-led market recovery. Tata Consultancy Services: Tata Consultancy Services is India's largest IT services company by revenue, providing consulting, digital transformation, and technology solutions to global clients across industries. The firm recently reported accelerating AI-related revenue and growth in international business as part of its September-quarter results. These outcomes positioned TCS as the primary catalyst for the rebound in Indian IT stocks amid broader market recovery. Kotak Institutional Equities: Kotak Institutional Equities provides institutional research and equity analysis. The firm double-upgraded Thermax to buy, citing favorable margin prospects, which supported the stock's gains in the session's rebound. IT Sector Focus: Investors prioritized corporate earnings over regulatory announcements when assessing Indian IT companies during the session. AI Revenue Trends: Indian IT services providers reported increasing contributions from AI-related work in recent quarterly updates. Visa and Offshore Shift: Indian IT firms have expanded local hiring and offshore delivery models in response to changes in US work visa policies.