TCS, Tech Mahindra, Bajaj Auto, Bharti Airtel, among top 10 stocks that outperformed NIFTY50 this week; check full list

Stocks like Tata Consultancy Services (TCS), HCL Tech, Infosys, Bajaj Auto, Mahindra & Mahindra, and Bharti Airtel were among the top 10 stocks which outperformed the benchmark NIFTY50 index in the week ended Friday, October 16, 2026.

NSE data showed that NIFTY50 has delivered around 2.5% returns to investors over the last five trading sessions.

During Friday’s trading session, the NIFTY50 index surged 0.66% to hit an intraday high of 23,149 points, in comparison to 22,997.35 points at the previous equity market close, according to NSE data.

The BSE SENSEX surged 0.62% to a high of 74,778.78 points on Friday’s market, when compared to 74,315.61 points at the previous equity market close, as per the exchange data.

Investors largely focused on the Q2 earnings momentum this week as companies posted healthy earnings and positive guidance for the upcoming period amid global market pressure arising from elevated oil prices, US Treasury yields above 5%, and selling pressure in AI-related stocks.

Here’s a list of top 10 stocks which outperformed the benchmark NIFTY50 index this week.

Top 10 stocks that outperformed NIFTY50

IT stocks in focus

IT stocks like Tech Mahindra, TCS, HCL Tech and Infosys emerged as the top-performing companies in the NIFTY50 index in the week ended Friday, October 16, as investors focus on the overall healthy performance of the sector in the July to September quarter earnings.

This week, IT stocks witnessed a sustained rally in the domestic equity indices. The overall sentiment was further strengthened by the cool-off in the US Treasury yields, as lower yields are favourable for tech and IT sector stocks.

The sector benchmark Nifty IT index has risen more than 11% this week, while the benchmark index NIFTY50 was only up 2.7% in the week ended October 16.

Tech Mahindra

Data showed that the IT company’s net profits surged 8.2% sequentially to ₹1,465 crore, while the revenues gained 3% on a quarter-on-quarter basis. On a yearly basis, Tech Mahindra’s profits surged 33%, while the revenues advanced 15.6% to ₹15,712 crore in the period under review.

Along with the Q2 earnings, Tech Mahindra announced a ₹15 per share interim dividend and a 1:1 bonus issue of equity shares for investors.

Tata Consultancy Services (TCS)

TCS shares also significantly outperformed the benchmark index NIFTY50 as investors focused on the consolidated net profit gains amid key support from revenue surge and deal wins in the period.

The IT major’s consolidated net profits surged around 15% to ₹13,884 crore, while the revenue from core operations advanced 11.2% year-on-year (YoY) to ₹73,188 crore in the period under review.

Although operating profit increased 4.6% YoY, the EBITDA margins contracted by 162 basis points to 25.70% in the quarter ended September 2026, from 27.32% in the corresponding quarter a year earlier.

The company also announced an interim dividend of ₹12 per share for every eligible shareholder up to the predetermined record date of the corporate action.

HCL Tech

NSE data showed that HCL Tech shares surpassed NIFTY50 returns this week as investors reacted to the company’s nearly 11% growth in net profits with the help of strong improvement in artificial intelligence (AI) revenues.

HCL Tech recorded nearly 11% growth in consolidated profits, an 11.5% surge in revenue from core operations year-on-year and a 3% jump in revenue sequentially in the second-quarter results for FY27.

The IT company’s Q2 earnings were in line with and slightly ahead of market estimates, adding support to the sentiment of investors amid the management revising its lower revenue and services guidance.

HCL Tech now expects revenue growth in the range of 2.5%-4% YoY in constant currency terms for the current fiscal year.

Infosys

Infosys is scheduled to announce its Q2 results on October 23, 2026, and the board is also set to consider and approve an interim dividend for shareholders for the financial year 2026-27.

The IT stock outperformed this week as investors focused on the overall momentum for IT stocks amid healthy earnings from other peer companies.

Auto stocks in focus

Automotive stocks like Bajaj Auto, Eicher Motors, and Mahindra & Mahindra emerged among the top 10 stocks which outperformed the benchmark NIFTY50 index this week as investors focus on festive season demand gains.

Auto stocks were witnessing elevated buying interest from investors as the festive season is generally beneficial for the companies, with customers purchasing more during the auspicious season of Navaratri, Durga Puja and upcoming Diwali in the third quarter.

This comes at a time when experts predict that the Indian markets are looking more attractive to investors amid global market tensions, selling pressure in AI stocks, and higher-than-expected US inflation data.

Other top gainers

Bharti Airtel, HDFC Bank, and Ultratech Cement were also among the top 10 stocks which outperformed the benchmark NIFTY50 index in the week ended Friday, October 16, amid the buying momentum this week.

Experts from HSBC predict that, with the Indian equity market offering attractive valuations, investors are now more open to non-AI stories as India offers diversification amid global market pressure.

However, despite the elevated interest in the markets, the macroeconomic headwinds remain a key concern as inflation is expected to hit the 6% level in the third quarter of FY27, due to the prolonged impact of the West Asia crisis, as per RBI’s latest estimates.