Top IT firms reported muted growth as macroeconomic uncertainty, weak discretionary spending and AI-led disruption continued to weigh on traditional revenue streams
Infosys reported a 12.2 per cent increase in net profit for the first quarter to ₹7,769 crore on a year-on-year basis. Revenue for the quarter was up 14 per cent to ₹48,211 crore.
Laxmikant Shukla, technical analyst at YES Securities maintains a constructive view on HCL Tech, Tech Mahindra and TCS, and predicts up to 14 per cent upside for these stocks.
NTPC, Shriram Finance, Bank of Baroda, Bank of India, CG Power among top stocks slated to post their Q1 results today.
The Infosys veteran will take over as chief executive officer and managing director from April 1, 2027, after Salil Parekh completes his second term at the IT major
Infy trims FY27 revenue guidance
Q1 results updates: Firms including Coromandel International, Mphasis, Chennai Petroleum Corporation, and Motilal Oswal Financial Services are also to release their April-June earnings today
Infosys, InterGlobe Aviation, Mahindra Lifespace Developers, Meesho, Ujjivan Small Finance Bank among top stocks slated to post their Q1 results today.
Infosys Q1 results expectations: Brokerages expect Infosys to maintain its guidance range of 2-3.5 per cent Y-o-Y CC growth for FY27E.
Contractual penalties imposed on Infosys for delay in IEC project, outages
However, despite recovery from lows, the Nifty IT index underperformed the market by falling 22 per cent, as against a 7.2 per cent decline in the Nifty 50 thus far in CY2026.
India's top 100 brands posted a combined value of $252.8 billion in 2026, up 7 per cent year-on-year, with Tata Group retaining the top spot for the 10th straight year
At 12:44 PM on Monday, the Nifty IT index was the top gainer among sectoral indices, up 4.24 per cent, as compared to 0.01 per cent rise in the Nifty 50.
In the past four trading days, IT index outperformed the market by soaring 9 per cent, as against a 2 per cent gain in the Nifty 50.
Analysts expect weak constant-currency growth as AI-led pricing pressure, cautious client spending and geopolitical uncertainty weigh on demand despite currency gains
The Nifty IT currently quotes around 20 per cent below its 200-DMA. TCS, Infosys, Wipro and HCL Technologies are down in the range of 21-26 per cent form respective 200-DMAs.
In the past 20 trading days, the Nifty IT index tanked 17 per cent, as against a 2.2 per cent rise in the Nifty 50 till Wednesday.
Analysts expect another subdued quarter for IT services companies as macroeconomic uncertainty, delayed deal conversions and AI-led pricing pressures weigh on growth and margins
As per data, the Nifty IT Index has corrected nearly 42 per cent from its all-time high of 46,089, recorded in December 2024, and is now trading close to its April 2023 lows.
The telecom major added ₹7.64 trn in value over 5 years, while TCS, Infosys and Wipro together lost ₹8.5 trn, according to the Burgundy Private Hurun India 500 report