India's IT sector climbs to eight-month peak as LTTS shares jump 15%

The Nifty IT index climbed 2% to 32,314.35 on the NSE, marking its strongest performance in eight months and surpassing its February 2026 peak. The rally follows robust Q2FY27 earnings from leading Indian tech companies, with several stocks posting double-digit gains in October. L&T Technology Services reported a net profit of ₹548.2 crore, a 66.8% year-on-year increase, and its share price jumped 15% to ₹4,143 amid strong trading volume.

The company highlighted a $200 million total contract value for the quarter, more than half of which came from AI-related deals. Analysts suggest that the recent sell-off in global AI-driven stocks could steer foreign institutional investors toward the Indian market, providing further support for the sector’s momentum.