Depends on the punch kit & the punches

IMO 10 gage stainless is going to be tough to punch without the
hydraulic setup

Here's so info on a Greenlee punch for use with hydrauliuc tool.

28160 - Greenlee
28160-Slug Splitter Punch 1-1/4" Conduit Size (NEW)
Slug-Splitter heavy-duty punches are designed to punch up through 10
gauge stainless steel. Excellent abrasion resistance for punching
fiberglass and plastic.