Nifty IT Stocks After TechM Wipro Results October 16: What to Watch

Nifty IT stocks after TechM Wipro results head into Friday, October 16, 2026, with the sector already running hot on the NSE and the cash market yet to trade the two mid-tier majors’ September-quarter numbers. On Thursday, October 15, the Nifty IT index gained 1.82% to 30,719.80, a touch better than the Nifty 50’s 1.66%, and Tech Mahindra topped the 10-stock basket with a 4.75% rise to ₹1,650.00. Both companies reported after the cash close. Wipro’s board outcome reached the NSE feed at 3:47 pm IST and Tech Mahindra’s at 4:57 pm IST. So Thursday’s moves were positioning ahead of the numbers, not a response to them. This Daily Stock Updates watchlist works off Thursday’s official NSE closes, the companies’ own Q2 FY27 releases and the peer results calendar. It quotes no Friday prices, because the cash session hadn’t opened when we wrote it.

Where the numbers come from: index levels are from NSE’s daily index close file for October 15 and earlier daily files. Stock closes and percentage moves are from the NSE capital-market bhavcopy for October 15, and unless we say otherwise, each percentage move is against the previous day’s official close. The 10-stock line-up is NSE’s Nifty IT constituent list, and filing times are from NSE corporate announcements for TECHM and WIPRO. Our Stock Market Today India hub has the wider market picture.

Nifty IT stocks after TechM Wipro results: reading Thursday’s tape

The Nifty 50 finished October 15 at 22,997.35, up 374.65 points or 1.66%. The Nifty IT index closed at 30,719.80, up 548.80 points or 1.82%. It opened at 30,544.90, touched a high of 31,038.15 and a low of 30,489.55, and its constituents turned over ₹8,519.56 crore between them. This was the IT index’s third gain in a row, after a 5.22% jump on October 13 and 1.14% on October 14. Measured from the October 12 close of 28,349.60, the three-session climb comes to about 8.36%, by our calculation from the NSE files.

On a broadly positive day, IT was near the top of the sector table. The same October 15 index file has Nifty Auto and Nifty Financial Services each up 1.67% and Nifty Bank up 0.89%. On the other side, Nifty FMCG lost 1.06%, Nifty Energy 0.79%, Nifty Media 1.47% and Nifty PSU Bank 1.55%. So while money was coming out of staples and some cyclicals on Thursday, it was quite comfortable staying in software services ahead of the Tech Mahindra and Wipro results.

Breadth was good. Eight of the 10 Nifty IT names closed up and two closed down. Tech Mahindra led by a distance, and Oracle Financial Services Software and Persistent Systems were the only ones in the red.

Tech Mahindra by itself traded ₹1,411.08 crore in the bhavcopy. That’s about 16.6% of the index constituents’ ₹8,519.56 crore turnover, by our calculation. Infosys (₹1,781.66 crore) and TCS (₹2,160.72 crore) were still bigger in absolute value, but Tech Mahindra’s move and its share of the volume show how much Thursday was about the evening’s results. Wipro gained 1.83% to ₹174.05 on ₹208.83 crore of turnover. A decent day, but nothing like a frenzy going into the print.

Across the two sessions before results, Tech Mahindra rose about 6.9% from its October 13 close of ₹1,543.50 (our calculation from the October 14 and 15 bhavcopies), and Wipro about 3.0% from ₹169.00. That’s the pre-results cushion Friday’s open starts with.

Thursday’s Nifty IT rally was a set-up, not a verdict. Tech Mahindra and Wipro reported after the cash close, so October 16 is the first full NSE session that can price their Q2 prints.

Tech Mahindra Q2 FY27: faster growth, wider margins, a 1:1 bonus

Tech Mahindra’s board met on October 15 and signed off on audited consolidated results for the quarter ended September 30, 2026. Here are the rupee numbers from the company’s Q2 FY27 press release:

• Revenue: ₹16,180 crore, up 3.0% quarter-on-quarter and 15.6% year-on-year.
• EBIT: ₹2,387 crore, up 5.4% QoQ and 40.5% YoY.
• Profit after tax: ₹1,586 crore, up 32.7% YoY. Set against the June-quarter PAT of ₹1,465.1 crore in the release’s consolidated table (₹14,651 million), that’s about 8.2% sequential growth by our calculation.
• Diluted EPS: ₹17.84.
• Interim dividend: ₹15 per share.
• Bonus: the board recommended a 1:1 bonus issue, which the audited standalone results PDF also confirms.

In dollars, the release showed revenue of $1,693 million, up 2.0% QoQ and 6.8% YoY as reported, and up 2.4% QoQ and 7.2% YoY in constant currency. EBIT came to $250 million at a 14.8% margin, roughly 40 basis points better QoQ and about 260 basis points better YoY. New deal wins (TCV) were $1,023 million, up 25.4% YoY. CFO Rohit Anand said in the release that this was the twelfth straight quarter of margin expansion.

Business Standard carried the same PAT and revenue headlines. Livemint, putting the two mid-tier results side by side, credited the Orange telecom ramp for part of Tech Mahindra’s growth. It also noted that analysts in a Bloomberg poll had expected dollar revenue of about $1.66 billion, which makes the $1.69 billion print a beat. Our Tech Mahindra Q2 results October 15 report goes line by line. For this watchlist, the headlines Friday will trade on are enough.

Wipro Q2 FY27: flat in constant currency, 16.5% margin, weaker bookings

Wipro’s quarter was a mixed bag. Its Q2 FY27 press release and analyst datasheet showed:

• Gross revenue: ₹247.5 billion (about ₹24,752.7 crore), up 1.1% QoQ and 9.1% YoY in rupees.
• IT services revenue: $2,611.5 million, down 0.1% QoQ and up 0.3% YoY in reported dollars; flat (0.0%) QoQ and up 0.6% YoY in constant currency.
• IT services operating margin: 16.5%, up 0.5 percentage point QoQ and down 0.2 percentage point YoY.
• Net income: ₹32.0 billion, down 4.7% QoQ and 1.9% YoY.
• EPS: ₹3.23, up 0.9% QoQ and 4.2% YoY.
• Total bookings: $2,595 million, down 22.9% QoQ in constant currency; large-deal bookings ($30 million or more) at $674 million, down 58.6% QoQ in constant currency.
• Q3 outlook: IT services revenue guided to $2,571 million to $2,625 million, about -1.5% to +0.5% sequentially in constant currency.

CNBC-TV18’s October 16 stocks-to-watch gallery, which went up late on October 15, put Wipro first and picked out the same -1.5% to +0.5% constant-currency Q3 band, the $2,611.5 million IT services revenue and net profit of ₹3,199.7 crore. Business Standard rounded net profit to ₹3,201 crore with a 1.4% YoY fall, slightly off the company’s 1.9% YoY decline on ₹32.0 billion. We go with the press-release numbers here. Livemint reported Wipro’s New York-listed ADRs up about 3.9% as of 8 pm IST on October 15. That gives a sense of how overseas investors first priced the quarter, even with the NSE cash book already shut. Our full Wipro Q2 results October 15 analysis gets into bookings, other income and the share-count effect on EPS. The question for Friday is simple enough: does the domestic open follow the ADR, or the softer bookings and guidance?

Tech Mahindra offered growth and a bonus; Wipro offered a margin uptick and a cautious December-quarter band. The peer gap is why Friday’s relative move between the two names matters as much as the index level.

Peers and the calendar: LTM today, Infosys and Coforge next week

LTM barely moved on Thursday, up 0.21% at ₹4,235.00, after hitting ₹4,358.00 and then closing right at the day’s low. That’s relevant because NSE’s event calendar has LTM Limited down for financial results and dividend on October 16. So Friday is a Tech Mahindra/Wipro reaction day and an LTM results day, all inside the same Nifty IT basket. Our results day stocks October 16 round-up covers the broader board calendar. The point here is just that LTM is the next IT print within the index.

Looking further ahead, the same NSE event calendar (equities window checked for October 16 to November 15, 2026) lists LTTS on October 19, Cyient on October 22, and a busy IT day on October 23 with Infosys, Coforge and Oracle Financial Services Software. KPIT Technologies and Zensar Technologies are down for October 28, and MphasiS for November 5. Keep in mind these are board-meeting slots from the exchange calendar. They don’t tell you what hour the numbers will actually come out.

Elsewhere on Thursday, HCL Technologies rose 2.49% to ₹1,360.00, carrying on the post-results strength behind the October 13 Nifty IT surge. Infosys and TCS each added about 2%, which kept the large-cap end firm without any new results of their own. Persistent slipped 0.98% to ₹5,840.00 and OFSS 1.63% to ₹10,250.00, the only two red names in the basket. If mid-tier IT turns risk-off on Friday, that’s probably where it shows first.

CNBC-TV18’s gallery also recapped Persistent Systems’ latest quarter (net profit ₹352 crore, down 27.2% QoQ; revenue ₹4,664 crore, up 8.4% QoQ in rupees). We mention it only to explain why Persistent was already on the October 16 watchlist. We aren’t going back over Persistent’s filing here.

Six things we’re tracking in Friday’s session

• Tech Mahindra’s open against ₹1,650. Thursday’s close was also its high for the day. Do buyers hold that level after the 32.7% PAT jump, the 14.8% EBIT margin and the 1:1 bonus, or does the pre-results 4.75% spike get sold? The answer will set the mood for the mid-tier pack.
• Wipro and the ADR cue. The NSE close before the print was ₹174.05, and Livemint’s after-hours ADR gain of about 3.9% is the first overseas verdict. Domestic traders will set that against flat constant-currency revenue, the drop in bookings and the -1.5% to +0.5% Q3 band.
• LTM’s numbers. When an index constituent reports on the same day the market is reacting to TechM and Wipro, it can swing relative performance even if the two mid-tier names do what’s expected.
• Breadth inside Nifty IT. Thursday’s eight-up, two-down split is healthy. A Friday where only Tech Mahindra holds on while Infosys, TCS and HCLTech give back gains would look very different from one where the whole basket follows through.
• Index markers. In the NSE files, Nifty IT’s Thursday high of 31,038.15 and the three-session run-up from 28,349.60 are the closest upside and run-up reference points. The October 14 low of 29,879.50 is the nearby level on the downside if the reaction turns soft.
• Next week’s large-cap result. Infosys on October 23 is the next big large-cap IT trigger on the calendar, with Coforge and OFSS reporting the same day. Positioning for that cluster could begin as soon as the TechM/Wipro reaction settles.

Where IT stands going into Friday

Nifty IT stocks after TechM Wipro results go into October 16 with the index up 1.82% on October 15 and about 8.36% over three sessions, with Tech Mahindra’s 4.75% pre-results jump to ₹1,650.00 out in front. After the close, Tech Mahindra reported revenue of ₹16,180 crore (+15.6% YoY), PAT of ₹1,586 crore (+32.7% YoY), a 14.8% EBIT margin, a 1:1 bonus and a ₹15 interim dividend. Wipro, by contrast, showed flat constant-currency IT services revenue, a 16.5% operating margin, weaker bookings and Q3 guidance of roughly -1.5% to +0.5%. LTM reports from within the same index today. Every number in this piece is exchange or company data from October 15 or earlier, since Friday’s session hadn’t begun when we wrote it. When the next batch of IT filings lands, our pillar on how to analyse quarterly results of a company is still the framework we’d use.

Disclaimer: This article is for information and education only and is not investment advice or a recommendation to buy, sell or hold any security. Stock prices, ADR quotes and results schedules can change quickly. Check the latest NSE or BSE data and company filings, and consult a SEBI-registered investment adviser before making investment decisions.