TCS

The Nifty IT index surged nearly 4% on Monday, emerging as the best-performing sector, driven by strong gains in major technology stocks. Investor sentiment was lifted by Tata Consultancy Services' (TCS) significant deal win, LTIMindtree's strategic partnership with Anthropic, and optimism ahead of the June-quarter earnings season, with HCL Technologies scheduled to announce its results later in the day. The Nifty IT index gained 3.77%, significantly outperforming the broader market. While the Sensex traded largely flat and the Nifty 50 edged marginally lower, IT heavyweights dominated the gainers' list. TCS, HCL Technologies, Tech Mahindra, Infosys, and Wipro were the top performers on the Nifty 50, reflecting broad-based buying across the sector. TCS led the rally, rising more than 5% after announcing a multi-million-dollar, multi-year agreement with ABB to modernize the engineering company's global network operations through an AI-powered network-as-a-service model. The deal expands TCS' responsibilities from infrastructure and application management to end-to-end global network operations and comes shortly after the company reported its June-quarter earnings. LTIMindtree gained more than 3% after unveiling a strategic partnership with Anthropic to accelerate enterprise adoption of Claude AI models. The collaboration will combine Anthropic's Claude family of AI models with LTIMindtree's implementation expertise, enabling enterprises to scale AI initiatives from pilot projects to full-scale production. The partnership will initially focus on clients across banking and financial services (BFSI), high-tech, consumer, and manufacturing sectors.