{"id":319216,"date":"2026-10-21T11:27:16","date_gmt":"2026-10-21T05:57:16","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=319216"},"modified":"2026-10-21T11:27:16","modified_gmt":"2026-10-21T05:57:16","slug":"it-stocks-on-fire-rally-up-to-15-percent-today-check-performance-of-tcs-l-and-t-technology-wipro-infosys-jefferies-bullish","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/it-stocks-on-fire-rally-up-to-15-percent-today-check-performance-of-tcs-l-and-t-technology-wipro-infosys-jefferies-bullish\/","title":{"rendered":"IT Stocks Rally Up to 15% Today: How TCS, L&T Technology, Wipro and Infosys Performed as Jefferies Sees Re-rating Room"},"content":{"rendered":"

The IT stocks rally lifted Nifty IT to 32,287.80 at 11:15 AM IST on 21 Oct 2026, up about 2.4% from 31,516.30, against gains of 0.25% for Nifty 50 and 0.42% for Sensex. In the IT stocks rally, L&T Technology Services (LTTS) led at Rs 3,983.00, up 10.3%, after peaking near 14.5% (my calculation) at Rs 4,135.30, so the 15% in headlines is a peak and not a closing gain. Jefferies, as reported by Business Today, sees over 20% best-case re-rating potential in Infosys and TCS.<\/em><\/p>\n

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Quick Answer<\/strong><\/p>\n

The IT stocks rally is driven by strong results from LTTS, renewed hopes for traditional technology spending and a Jefferies note that sees selective re-rating room in large caps. At 11:15 AM IST TCS was up 2.8%, Infosys 2.9%, Wipro 3.6%, HCLTech 2.0% and LTTS 10.3%, so in this IT stocks rally only LTTS came close to the 15% in the headlines, and only at its intraday peak. Jefferies says current valuations imply constant currency revenue growth of just 1% to 3% a year over FY26 to FY36, but it rates Infosys Hold and TCS Underperform and warns that AI-led deflation can still hurt growth. After this jump, short-term readings for TCS and Infosys look stretched, so the next move depends on earnings and AI spending news.<\/p>\n<\/p><\/div>\n

The IT stocks rally came on a day when the broad market rose only modestly, which made the sector stand out. Nifty IT opened at 31,910.25, touched 32,347.30, a gain of 2.6% from the previous close (my calculation), and the IT stocks rally held near the top of that range through the morning.<\/p>\n

This guide to the IT stocks rally covers index and stock moves, the LTTS result, what Jefferies said and where its targets sit against market prices, valuation, how stretched the rally looks and the risks. It is educational and not a recommendation to buy or sell any share.<\/p>\n

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