Indian markets traded higher on Friday, led by a strong rally in IT stocks after TCS posted better-than-expected Q1 results. Zensar Technologies, HEG, Newgen Software, and Blue Jet Healthcare gained on sector-specific optimism and corporate developments, while Lodha Developers, Schneider Electric Infrastructure, and Swiggy declined amid profit booking.
Indian equity markets traded with a positive bias on Friday, supported by strong gains in IT stocks after Tata Consultancy Services (TCS) reported quarterly revenue above market expectations. Easing crude oil prices also boosted investor sentiment. The benchmark Nifty 50 gained 1.01% to 24,205.2, while the BSE Sensex advanced 1.05% to 77,536.06 by 9:42 AM IST.
The Nifty IT index climbed 2.1%, led by TCS, which rose 2.2% after its June quarter revenue exceeded estimates. Stronger spending from banking clients and a weaker rupee supported the company’s performance, improving sentiment across the technology sector.
Zensar Technologies Share Price Surges 10% on IT Sector Recovery
Zensar Technologies Ltd emerged as one of the top gainers in the Nifty 500 universe, with its share price rising 10% on July 10. The company provides digital transformation services, software development, cloud solutions, data analytics and technology services to global enterprises.
The stock witnessed strong buying interest, with NSE trading volume rising to 1.24 crore shares compared with the 30-day average volume of 44.8 lakh shares. The rally came after recovery in IT stocks following TCS Q1FY27 results, with investors expecting that the challenging demand environment for the sector may be improving. Market participants are now tracking upcoming earnings from LTIMindtree, HCL Technologies, LTTS and Infosys for further sector direction.
Newgen Software Gains 10% Alongside IT Stocks
Newgen Software Technologies Ltd also gained nearly 10% on July 10, following renewed optimism in the IT sector. The company offers digital transformation platforms, workflow automation, document management and business process management solutions.
The stock benefited from improving sentiment after TCS results indicated better-than-expected business trends. Investors are closely monitoring upcoming technology sector earnings to assess the recovery in enterprise technology spending.
HEG Share Price Jumps 9% on Heavy Volume Buying
HEG Ltd was another major gainer, with its stock price increasing 9% on July 10. The company is one of India’s leading graphite electrode manufacturers, supplying products mainly used in electric arc furnaces for steel production.
The stock recorded strong trading activity, with NSE volume rising to 35.14 lakh shares against its 30-day average volume of 8.96 lakh shares. Graphite India Ltd also gained 6%, supported by positive sentiment in the graphite sector, with trading volume at 14.7 lakh shares compared with the 30-day average of 8.3 lakh shares.
Blue Jet Healthcare Rallies Over 6% After ₹800 Crore QIP
Blue Jet Healthcare Ltd gained more than 6% on July 10, extending its rally for the second consecutive session. The company operates as a contract development and manufacturing organisation (CDMO), providing pharmaceutical intermediates and specialty chemical manufacturing services.
The stock recorded NSE volume of 28.12 lakh shares compared with the 30-day average of 9.74 lakh shares. The rally followed the company’s successful ₹800 crore Qualified Institutional Placement (QIP). Blue Jet Healthcare issued shares to institutional investors at ₹506 per share against the QIP price of ₹531.7, reflecting a 4.87% discount.
Top Losers: Lodha, Schneider Electric and Swiggy Witness Selling Pressure
Lodha Developers Ltd declined 3.75% on July 10, closing at ₹1,147.50. The company, also known as Macrotech Developers, recorded trading volume of 28.28 lakh shares with a traded value of ₹324.96 crore. The fall appeared to be due to profit booking and market-based selling.
Schneider Electric Infrastructure Ltd dropped 3.51% to ₹1,433.10. The stock recorded volume of 2.55 lakh shares and traded value of ₹36.65 crore, with the decline attributed to normal market movements after recent gains.
Swiggy Ltd shares fell 2.80% to ₹273.07 after recent buying interest. The stock witnessed volume of 1.24 crore shares with a traded value of ₹349.21 crore. The decline was mainly due to short-term profit booking rather than any fresh negative development.
Overall, IT and select manufacturing stocks remained in focus, with Zensar Technologies, Newgen Software, HEG and Blue Jet Healthcare leading gains, while Lodha, Schneider Electric Infrastructure and Swiggy faced selling pressure.
