shares surged 7.89 per cent to ₹9,076.50 in morning trading on Wednesday, riding on strong momentum from parent company Oracle Corp’s stellar quarterly results announced after US market hours on Tuesday.
The Indian-listed subsidiary opened at ₹8,913 and touched a high of ₹9,137 during the session, with trading volumes reaching 6.20 lakh shares worth ₹559.66 crore. The stock’s performance mirrors the dramatic 27 per cent surge in Oracle Corp’s after-hours trading following the earnings announcement.
Oracle Corp reported remaining performance obligations jumping 359 per cent to $455 billion in the first quarter, driven by major deals with for 4.5 GW of data centre capacity, along with contracts involving and . CEO Safra Catz raised the cloud infrastructure revenue growth forecast to 77 per cent for the current fiscal year, up from earlier projections of 70 per cent, targeting $18 billion in revenue.
The company signed four multi-billion-dollar contracts with three different customers in Q1, with more expected in coming months. Chairman Larry Ellison highlighted MultiCloud database revenue from , and growing at 1,529 per cent in the quarter.
Despite missing revenue estimates at $14.93 billion against $15.03 billion expected, the strong booking momentum and upgraded guidance sent Oracle Corp shares to record highs. If the 27 per cent gains hold in regular US trading, it would mark Oracle’s biggest single-day gain since 1999, adding approximately $190 billion to market capitalisation.