Indian equities remained stock-specific on January 23, 2026, as strong IT earnings, infrastructure developments, and insider trading disclosures dominated market action, while global markets traded firmly in positive territory.
Coforge Ltd Q3 FY26: Margin Expansion, Strong Deal Wins
Coforge Ltd reported a robust set of results for the quarter ended December 31, 2025.
Revenue for Q3 FY26 stood at ₹4,188 crore ($478.2 million), marking a 5.1% QoQ growth in INR terms and 28.5% YoY growth. EBITDA rose 37.7% YoY to $83.4 million, with margins expanding 191 bps YoY to 17.4%. EBIT margin improved to 13.4%, also up 191 bps YoY.
Profit after tax (excluding extraordinary items) surged 71.2% YoY to ₹364 crore. The board announced an interim dividend of ₹4 per share.
Operational momentum remained strong, with order intake of $593 million during the quarter. The executable order book rose 30.4% YoY to $1.72 billion, providing strong revenue visibility for the next 12 months. Coforge signed six large deals across North America, Europe, and APAC. Headcount increased to 35,341, while LTM attrition declined to 10.9%, among the lowest in the sector.
Management reiterated confidence in sustained growth through FY26 and FY27, supported by a strong pipeline and the upcoming Encora integration, expected to create a $2 billion Data, Cloud, and AI core business.
Infobeans Technologies Q3 FY26: Profitability Soars, 3:1 Bonus Announced
Infobeans Technologies Ltd delivered a standout performance in Q3 FY26.
Revenue rose 38% YoY to ₹138 crore, while PAT jumped 173% YoY to ₹19 crore. EBITDA increased 89% YoY to ₹33 crore, driven by operating leverage and cost optimisation. The company added three new clients and expanded its workforce by 77 employees during the quarter.
The board announced a 3:1 bonus issue, reinforcing confidence in long-term growth. Infobeans said it will aggressively invest in sales expansion, specialised high-growth teams, and deeper enterprise engagement.
Insider Trading: Selling Seen in 360 ONE WAM, Promoter Buying in DB Corp
Insider trading disclosures showed selling activity in 360 ONE WAM Ltd, where multiple designated employees sold shares worth over ₹11.5 crore via market transactions.
In contrast, DB Corp Ltd saw promoter group entity D B Power Ltd purchase shares worth over ₹9 crore, signalling promoter confidence. Select promoter buying was also reported in Dhara Rail Projects Ltd and Eppeltone Engineers Ltd, while HCL Technologies saw routine ESOP-related transactions.
IRB Infrastructure Trust Begins Tolling on ₹9,270 Cr TOT-17 Project
IRB Infrastructure Trust commenced tolling on the TOT-17 highway project covering Lucknow–Ayodhya–Gorakhpur (NH-27) and Lucknow–Sultanpur (NH-731) from January 23, 2026.
The SPV paid an upfront concession fee of ₹9,270 crore after achieving financial closure and received the Appointed Date for a 20-year revenue-linked concession period. The project strengthens IRB’s asset portfolio and improves long-term cash-flow visibility.
Global Markets: US and Asia Trade Higher
Global markets remained supportive of risk sentiment.
In the US, the S&P 500 gained 0.55% to 6,913.35, the Nasdaq rose 0.87%, and Dow Jones futures traded at 49,450, up 0.13%.
Asian markets were modestly positive, with GIFT Nifty at 25,374 (+0.06%), Nikkei 225 up 0.28%, Hang Seng higher by 0.17%, and Shanghai Composite gaining 0.14%.
