IT stocks came under sharp selling pressure today after HCLTech's Q4 results and weak growth guidance.
HCLTech guided for revenue growth of 1-4 per cent in CC at the company level, and 1.5-4.5 per cent for its services business - the lowest in at least six years
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Client cutbacks, macro jitters trim growth expectations
HCLTech CEO and MD C Vijayakumar termed the year as one with an uncertain demand environment
Q4FY26 company results: Firms including Persistent Systems, Tata Investment Corporation, Cyient DLM, and Sunteck Realty are also to release their January-March earnings today
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HCLTech Q4 results preview: Brokerages tracked by Business Standard estimate HCLTech's net profit at an average of ₹4,716 crore, compared with ₹4,307 crore a year ago
Individually, Oracle Financial Services Software rallied 4.4 per cent, followed by TCS, Wipro, Persistent Systems, Infosys, Mphasis and LTIMindtree up over 2 per cent
Coforge, Infosys, Mphasis and Tata Consultancy Services (TCS) slipped over 3 per cent
All 10 constituents of the Nifty IT index were trading sharply higher. Mphasis, Wipro, Oracle Financial Services Software, HCL Tech, and TCS rose over 2 per cent each
IT Q4 results preview: While the recent sharp depreciation of INR against the USD is likely to provide a significant cushion to earnings, the focus has shifted toward FY27 guidance
Technical charts show that Nifty and its 12 stocks including Infosys, Reliance, Bharti Airtel, Asian Paints, HCL Tech and Bajaj Finance saw their 50-DMA slip below 200-DMA amid March market crash.
In the morning deals, the domestic currency hit a new low at 96.16 against the US dollar
Accenture sees AI-led deal momentum, but analysts remain cautious on Indian IT stocks amid weak demand, macro risks, and uncertain growth outlook
Analysts see the sharp correction in stock prices and dislocation in parts of the market as an opportunity for investors to review their portfolios and make appropriate changes.
IT services firm allows employees at its Chennai centre to work from home as LPG shortages disrupt canteen operations; some peers also see limited food services
Thus far in the calendar year 2026, TCS's market price plunged 23 per cent, as against 7.4 per cent decline in Nifty 50, data shows. The NIfty IT index lost over 1 per cent in trade on Tuesday.
With AI concerns continuing to put pressure on Indian IT stocks, analysts at HSBC expect Infosys and HCLTech's FY27 guidance could be the key catalyst for the sector
IT stocks outperformed the market on Wednesday as rupee breached the 92 per dollar-mark. Shares of Infosys, TCS, HCL Tech gained amid the market crash