Shares of Tata Consultancy Services (TCS), NTPC, Asian Paints and Larsen & Toubro (L&T) were among the notable gainers in the first hour of Friday’s session, with broader markets trading in positive territory.
TCS shares edge higher
TCS was the top performer among largecaps, rising 0.62% to ₹3,164.40 after touching an intraday high of ₹3,170. The firm remained in focus after announcing a major strategic investment in HyperVault, its AI-ready data centre vertical.
As part of the structure, TCS and global investment firm TPG Terabyte will jointly invest up to ₹18,000 crore, with TPG contributing ₹8,820 crore.
Brokerages continue to remain optimistic:
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JPMorgan maintained ‘Overweight’ with a target of ₹4,050, stating that TPG’s commitment reduces TCS’s equity burden and enhances long-term value potential.
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Morgan Stanley retained ‘Overweight’ with a target price of ₹3,430, calling TPG’s participation a strong validation of HyperVault’s scale-up opportunity.
Reliance Industries rises after bullish UBS note
Reliance shares gained 0.41%, trading at ₹1,555.40, supported by a positive call from UBS.
UBS reiterated its ‘Buy’ rating with a target price of ₹1,820, citing strong momentum in the company’s refining (O2C) segment.
Key points from UBS:
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Singapore GRM is no longer representative for diesel-heavy refiners like Reliance.
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Real-world spreads remain stronger, supporting earnings.
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O2C EBITDA expected to improve from ₹29,500 crore in H1 FY26 to ₹34,000 crore in H2 FY26, with a sharp jump to ₹64,800 crore in FY27.
UBS also highlighted Reliance’s diversified crude sourcing strategy, which continues to limit geopolitical risks and strengthen earnings visibility.
NTPC, Asian Paints, L&T also firm
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NTPC gained 0.43% to ₹328 after steady buying interest.
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Asian Paints rose 0.41% to ₹2,871.60, supported by stability in crude-linked input prices.
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L&T moved up 0.37% to ₹4,052.20 amid sustained order inflow expectations.
