IT stocks surged following positive comments from Donald Trump regarding US-India trade negotiations, easing concerns about potential tariffs. Optimism surrounding a possible US Federal Reserve rate cut and Infosys’ share buyback further fueled the rally. Investors are anticipating more buybacks from other IT companies, contributing to the sector’s positive momentum.
Laurus Labs shares rally over 4% as Q1FY27 profit jumps 126% on strong CDMO growth
Laurus Labs reported a strong June-quarter performance, with net profit more than doubling and revenue rising 29% year-on-year, driven by robust growth in its CDMO