The S&P BSE SENSEX ended at 82,429.90, up 2,975.43 points, or 3.74%, while the NSE's NIFTY50 index ended at 24,924.70, up 916.70 points, or 3.82%.

LTIMindtree on Monday, May 12, announced it has bagged a $450 million contract spread across seven years from a firm that holds a leadership position in the global agribusiness sector.

The deal is the largest in the history of LTIMindtree, it said, but did not divulge the name of the company.

As part of the deal, the Indian IT firm will implement an AI-powered operating model to deliver application management, infrastructure support, and cybersecurity services.

"LTIMindtree...announced a strategic agreement with a leader in the global agribusiness sector. This is the largest deal in the history of LTIMindtree, valued at $450 million across seven years," the company said in a release.

The stock was trading over 7% higher at ₹4,952 on the BSE.

Information Technology (IT) firms' share price soared on Monday, May 12, after the US and China decided to roll back most of their recent tariffs and call a 90-day pause to keep talking to resolve their trade disputes.

US Trade Representative Jamieson Greer said the US agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate on US goods by the same amount to 10%.

Greer and Treasury Secretary Scott Bessent announced the tariff reductions at a news conference in Geneva.

Oracle Financial Services Software was the top contributor in the sector, jumping 8.29%. Coforge (8.19%), Persistent Systems (7.98%), Infosys (7.69%), LTI Mindtree (7.02%) and HCL Technologies (6.2%) were the top gainers.

Shares of Wipro, Mphasis, Tech Mahindra and Tata Consultancy Services also zoomed 6.11%, 5.98%, 5.18% and 4.76%, respectively.

The Indian stock market is witnessing a sharp rally during the afternoon trade as geopolitical tensions between India and Pakistan eased.

At 2 PM, the S&P BSE SENSEX soared 2,657.61 points, or 3.34%, at the 82,112.08 level, while NSE’s NIFTY50 was at the 24,833.15 level, surging 825.15 points, or 3.44%.

On the NIFTY50 index, Adani Enterprises (7.46%), Infosys (7.38%), Shriram Finance (7.22%), HCL Technologies (6.41%) and Wipro (5.98%) were the top gainers.

On the other hand, Sun Pharma and IndusInd Bank were the only losing scrips, tumbling 3.65% and 3.47%, respectively.

Tata Steel Ltd, a leading steel producer, will announce its earnings for the quarter ended March 2025 on Monday.

In an exchange filing, the firm said its board meeting will be held on Monday to "consider and approve the yearly audited financial results of the company for the period ended March 2025 and dividend/other business".

The Mumbai-headquartered company said it will hold its earnings discussion call for investors and analysts on Tuesday, May 13, from 2 pm to 3:30 pm to discuss Q4 and FY25 results.

Shares of Tata Steel are trading 5.55% higher at ₹150.71 apiece on NSE.

Oracle Financial Services Software leads the rally on the index, surging almost 8%.

Reliance Power is the top gainer on the Nifty Smallcap 100 index, jumping 12.73% to ₹43.57 per share on NSE after firm posted a consolidated net profit of ₹126 crore in January-March quarter of FY25.

Reliance Power on Friday posted a consolidated net profit of ₹126 crore in January-March quarter of FY25 due to lower expenses. The company had reported a loss of ₹397.56 crore in the quarter ended on March 31, 2024, a regulatory filing showed.

Total income dipped to ₹2,066 crore in the fourth quarter from ₹2,193.85 crore in the same period a year ago.

Total expenses declined to ₹1,998.49 crore in the quarter under review from ₹2,615.15 crore a year ago.

Raymond, Godrej Properties, DLF, Anant Raj and Sobha are the top contributors on the index.

Shares of BSE Ltd, the oldest stock exchange in Asia, soared as much as 7.22% to ₹7,047 apiece on the BSE on Monday. Last week (on May 6), the bourse reported a multi-fold jump in net profit to ₹494 crore during the March quarter. The exchange had posted a net profit of ₹107 crore in the year-ago period, BSE said in a regulatory filing to the National Stock Exchange (NSE).

Its total income rose to ₹926.4 crore in the January-March period from ₹543.3 crore a year earlier.

For the full fiscal year 2024-25, the bourse's net profit grew over threefold to ₹1,322 crore from ₹404 crore in FY24. Its total income doubled to ₹3,236 crore for FY25 from ₹1,596 crore logged in the preceding fiscal.

For FY25, BSE traded 30.5 billion contracts in the equity derivatives segment, generating a total revenue of ₹1,415 crore.

Further, the total number of transactions in BSE StAR MF grew 61% to reach 66.3 crore in FY25 from 41.1 crore last year, with BSE continuing a market share of 89%.

Shares of Birla Corporation hit their upper limits on Monday, May 12, after the company reported a 32.7% rise in its consolidated net profit to ₹256.6 crore for the March 2025 quarter, driven by higher sales volume and realisation from the cement business.

It had posted a net profit of ₹193.34 crore in the January-March period last year.

MP Birla Group firm’s revenue from operations grew 6% to ₹2,814.91 crore during the March quarter. It was Rs 2,654.44 crore a year ago.

Following the earnings update, shares of Birla Corporation are trading 19.99% higher on the NSE at ₹1,268.80 apiece.

The broader market is witnessing a good rally, with the Nifty Midcap 100 index rising 3.31% to 54,986.80 levels and the Nifty Smallcap 100 gauge trading at the 16,682.30 level, soaring 3.71%.

Rail Vikas Nigam (7.8%), Suzlon Energy (7.4%), Escorts Kubota (6.95%), Dixon Technologies (6.52%) and Aditya Birla Capital (6.28%) are the top contributors on the Nifty Midcap 100 index.

On Nifty Smallcap 100, Reliance Power (10.58%), HFCL (10.45%), IFCI Limited (9.33%), Triveni Turbine (9.12%) and Sonata Software (8.61%) are the biggest gainers.

Shares of food delivery and quick commerce platform Swiggy are trading in the positive territory on Monday with positive bias despite the company reporting a widening of consolidated net loss during the March quarter to ₹1,081.18 crore, compared to a ₹554.77 crore net loss a year back.

The stock is trading at ₹315.80 apiece, up 0.86%, on the NSE at 10:21 am.

Swiggy's revenue from operations rose to ₹4,410 crore during the January-March period, as against ₹3,045.5 crore a year earlier, a regulatory filing showed.

However, its total expenses shot up to ₹5,609.6 crore during the quarter under review, as against ₹3,668 crore in the corresponding period of the previous year.

Shares of the Adani Ports rallied over 5% in the opening session after the company on Saturday said it has won a bid to supply 1,500 MW of electricity to Uttar Pradesh from a greenfield ultra-supercritical power plant in the state, entailing an investment of $2 billion. This is further to the Uttar Pradesh cabinet approving the project earlier this month, a company statement said.

The company will now sign a long-term power supply agreement with Uttar Pradesh Power Corporation Ltd (UPPCL) under the Letter of Award (LoA) received today, it stated.

After opening 4.53% higher, the stock was trading at ₹1,359 per share on NSE, climbing 4.03%. It was one of the top contributors on NIFTY50 index.

Triveni Turbine shares rose 10.74% to ₹571 apiece on the NSE on Monday after the firm reported a 60.44% rise in standalone profit to ₹93.7 crore in the March quarter, compared to ₹58.4 crore profit after tax a year back.

Stock Market Live Updates: Indian stock exchanges recorded a gap-up opening on Monday. The NIFTY50 opened 1.71% higher at 24,420.1, while SENSEX advanced 1,349.33 points to 80,803.

Adani Enterprises, Jio Financial Services, Adani Ports, Shriram Finance and Trent were the top gainers, while Sun Pharma and Cipla declined.

Stock Markets Live Updates: Asian stocks are trading higher on Monday, 12. Hong Kong's Hang Seng is up 1.28%, while Japan's Nikkei 225 gained 0.04%.

Taiwan's TWSE Capitalisation Weighted Stock Index soared 1.08%. Similarly, South Korea's KOSPI advanced 0.5%.

Stock Market Live Updates: GIFT NIFTY is trading higher, suggesting a positive opening for the Indian stock exchanges on Monday, May 13.

The GIFT NIFTY futures index is up 459.5 points, or 1.91%, indicating a gap-up opening for stock markets.