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Indian IT stocks dropped on Monday as stronger-than-expected US jobs data revived concerns over a September Federal Reserve rate hike. The Nifty IT index dropped over 2%, with Infosys, HCLTech, TCS and others declining. Analysts, however, see longer-term opportunities from AI-led spending on deployment, integration and modernisation.
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HEG shares opened nearly 64% lower on Monday as the stock adjusted for the companys demerger, which split its businesses into two separately listed entities. The graphite electrodes business will move to HEG Graphite, while the existing listed company will retain advanced materials, battery energy solutions and green power businesses and be renamed HEG Advanced Materials.
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IFCI shares rallied 6% after Sebi approved NSEs much-awaited IPO, clearing a key hurdle for the exchanges listing. IFCI has indirect exposure to NSE through its majority stake in Stock Holding Corporation of India. The stock has surged over 500% in three years, with analysts seeing further upside.
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BSE shares extended their winning streak as Sebi announced a review of the methodology used to determine derivative settlement prices following concerns over the new Closing Auction Session. Trading volumes and option activity have declined sharply, particularly at BSE. A consultation paper expected next week could propose changes aimed at reducing expiry-day volatility and improving risk management.
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HFCL shares gained nearly 5% after the companys FY26 Annual Report highlighted a 113% year-on-year surge in its order book to Rs 21,206 crore. Strong growth in revenue, EBITDA and profit, along with a fresh Rs 2,329 crore export order, further strengthened the companys growth outlook.
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