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  5. Coforge, Infosys, TCS, other IT stocks rally up to 6% on March 18: What fuelled NIFTY IT surge to over 4% today?

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Coforge, Infosys, TCS, other IT stocks rally up to 6% on March 18: What fuelled NIFTY IT surge to over 4% today?

Anubhav Mukherjee
By Anubhav Mukherjee

4 min read | Updated on March 18, 2026, 16:18 IST

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SUMMARY

IT stocks: Coforge, Oracle Financial Services Software, Infosys, Persistent Systems, and TCS were among others that rallied on March 18, 2026, after global capital markets firm CLSA’s report dismissed the artificial intelligence (AI) technology threat on Indian companies. Here's what investors should know.

Stock list

COFORGE
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OFSS
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INFY
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MPHASIS
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TCS
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stocks to watch 26 feb

IT stocks received their high volume trigger from CLSA’s report on Wednesday after the global firm also cited that, in their view, the stocks have corrected to near their 10-year average.

IT sector stocks like Coforge, Oracle Financial Services Software, Infosys, Persistent Systems, and Tata Consultancy Services (TCS) rallied during the intraday trading session on Wednesday, March 18, 2026, after global capital markets firm CLSA’s report dismissed the artificial intelligence (AI) technology threat on Indian companies.

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In the report, CLSA clarified that they did not find any evidence that the latest AI tools launched by global giants like Anthropic and OpenAI are set to affect client renewals among the Indian IT sector companies, reported the news portal CNBC-TV18.

Although the report also flagged that there was a certain delay in the decision-making process from the side of the clients due to the launch of the AI tools from the global firms, and the ongoing crisis in West Asia.

The conflict between the United States and Iran has direct revenue exposure to the top IT sector companies in India. However, the report also suggests that the impact will be in the low single digits, while the broader impact will depend on how long the conflict lasts.

The IT stocks received their high volume trigger from CLSA’s report after the global firm also cited that, in their view, the stocks have corrected to near their 10-year average. The NIFTY IT index surged more than 4% to a high of 30,055.60 points, compared to 28,760.90 points at the previous market session.

How much did IT stocks rally today?

Coforge: Coforge shares surged 6.9% during the intraday trading hours to hit the high of ₹1,148.20 in the afternoon market hours on Wednesday, compared to ₹1,073.90 at the previous market close, NSE data shows. As of 2:40 p.m., Coforge stock was trading 5.33% higher at ₹1,131.10.

Oracle Financial Services Software (OFSS): OFSS shares jumped 5.7% to hit the intraday high of ₹6,666, compared to ₹6,302 at the previous stock market close, according to the exchange data. As of 2:42 p.m, the company’s stock was trading 4.26% highest at ₹6,570.50 on Wednesday.

Persistent Systems: Persistent Systems shares hit an intraday high of ₹4,775 after surging 5.4% during the trading session, compared to the previous market close level of ₹4,529.40, as per NSE data. As of the afternoon hours, Persistent Systems’ stock was trading 3.99% higher at ₹4,710.
Tech Mahindra: Tech Mahindra shares surged 4.6% to hit a high of ₹1,404.70 during Wednesday’s market, compared to ₹1,341.80 at the previous trading close, according to the NSE data. The company’s stock was up 3.84% at ₹1,393.30 as of the afternoon trading hours.
Mphasis: Mphasis stock surged more than 5% during the trading session to hit a high of ₹2,185, in comparison with ₹2,074.10 at the previous market close, according to the exchange data. Mphasis stock was trading 2.97% higher at ₹2,132.70 in the afternoon hours on Wednesday.
Infosys: India’s second-largest IT firm, Infosys’ stock price surged 4.7% to the intraday high of ₹1,290, compared to ₹1,232.90 in the previous market session, as per the data. The company’s stock was trading over 3% higher at ₹1,270.70 on Wednesday’s market.
HCL Technologies: HCL Tech. shares jumped 4.3% to hit the day’s high point of ₹1,378.40 on March 18, compared to ₹1,,321.10 at the previous trading close, according to the market data. HCL Tech’s stock was trading 2.77% higher at ₹1,358.40 on Wednesday afternoon.
LTIMindtree: LTIMindtree shares surged 4.3% to ₹4,372.90 to hit the intraday high level of ₹4,372.90, compared to ₹4,189.20 at the previous market close, according to NSE data. The company’s stock was trading 2.76% higher at ₹4,305 on Wednesday.
TCS: Tata Consultancy Services (TCS) shares surged 3.8% higher to ₹2,482.90 on Wednesday’s market, compared to ₹2,391.70 at the previous market close. India’s largest IT company’s stock was trading 2.13% higher at ₹2,442.70 in the afternoon market session.
Wipro: Wipro shares jumped 3.49% to hit the intraday high of ₹198 on Wednesday, compared to ₹191.32 at the previous market close, NSE data showed. The company’s stock was trading 1.6% higher at ₹194.39 as of the afternoon trading session.
Disclaimer: This article is purely for informational purposes and should not be considered investment advice from Upstox. Please consult with a financial advisor before making any investment decisions.
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About The Author

Anubhav Mukherjee
Anubhav Mukherjee is a business journalist with two years of experience at leading financial news platforms. He writes on a wide range of topics, including equity markets, corporate developments, company earnings and commodities. He holds a Post Graduate Diploma in Business & Financial Journalism by Bloomberg from the Asian College of Journalism.

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