Indian IT stocks have fallen up to 34 per cent in 2026 as AI disrupted outsourcing model. Analysts remain cautious on FY27 outlook. They prefer TCS, Infosys, HCLTech, Coforge
The global research and broking house has cut their earnings estimates by 1-4 per cent across IT firms and expects 6 per cent earnings CAGR over FY26-28.
After a modest recovery in Q2 on low expectations, Motilal Oswal expects December quarter (Q3) to revert to typical seasonal softness, with furloughs weighing on growth across large IT services firms.
Nomura, which termed Coforge its "top pick in the mid-cap India IT services sector," said the company is banking on a solution-led sales strategy to maintain its growth trajectory.
Valuations across the sector remain attractive, but Nomura stays selective. It has rolled forward its valuation framework to H1FY28 while maintaining target multiples.
Tata Elxsi stock was seen testing its 100-DMA support after a gap of two months; chart hints that the stock could slide all the way to ₹5,285 levels, in case near support levels are taken out.
Trump Tariffs: Analysts at Kotak Institutional Equities believe Tata Consultancy Services (TCS), followed by Infosys, HCL Tech, and Coforge have lower downside from current levels
Why are midcap IT stocks rising today: Persistent Systems share price soared 8 per cent to Rs 6,163.45 per share after the company reported broad-based growth across geographies and segments.
HCLTech declared a dividend of Rs 18 per share, including a special Rs 6 per share dividend to commemorate 25 years since its public listing, marking its 88th consecutive quarter of dividend payouts
Tanla Platforms share price: Over the past three months, Tanla Platforms share has declined 25 per cent on the bourses. It has dropped 28.6 per cent in six months, and 38.6 per cent in calendar year
A combined 2.42 million equity shares, representing 1.73 per cent of the total equity of the company, had changed hands on the NSE and BSE till 11:21 AM.
