Mumbai: Tech Mahindra shares surged more than 7 per cent on Friday after the IT services company reported stronger quarterly earnings and recommended a 1:1 bonus issue.
The stock climbed 7.15 per cent to ₹1,766.70 on the BSE and rose 7 per cent to ₹1,767 on the NSE, becoming the biggest gainer among Sensex and Nifty constituents.
Tech Mahindra Market Value Jumps
The rally added ₹10,974.86 crore to the company’s market valuation, taking it to ₹1,72,895.16 crore.
Other technology shares also advanced. Infosys traded nearly 4 per cent higher, TCS gained 3.26 per cent and HCLTech rose more than 1 per cent.
The gains highlighted buying interest in major IT companies during Friday’s trading session, with Tech Mahindra leading the group.
Q2 Profit Rises 32.74 Per Cent
Tech Mahindra reported consolidated net profit of ₹1,585.6 crore for the September quarter of FY27, up 32.74 per cent from ₹1,194.5 crore a year earlier.
Strong volume growth, cost savings and rupee depreciation supported operating profit, according to the company.
Revenue from operations increased 15.6 per cent to ₹16,180.2 crore, compared with ₹13,994.9 crore in Q2 FY26.
On a sequential basis, net profit increased 8 per cent, while revenue rose 3 per cent, indicating improvement over the preceding quarter.
First Bonus Issue In 11 Years
The board recommended issuing one bonus equity share for every existing share held, marking the Pune-based company’s 40th anniversary.
According to its regulatory filing, the bonus shares are expected to be credited by December 15.
This would be Tech Mahindra’s first bonus issue in 11 years. Its previous bonus allocation was also in the ratio of 1:1, in March 2015.
Earnings And Shareholder Action In Focus
The quarterly announcement combined higher profit, revenue growth and a proposed bonus allocation.
Friday’s share-price gains followed these disclosures, with the company outperforming benchmark constituents and participating in the wider advance across leading information technology stocks following its latest earnings announcement.
