Market Commentary: IT & Telecom Stocks - Trends, Triggers And What’s Next

In a year-end discussion on Business Today Television, Piyush Pandey, Senior VP-Equity Research at Centrum Broking, shared a positive outlook for India's IT sector in 2026 after two tough years.Q2 FY26 results showed sequential revenue growth, margin improvement, strong deal wins, and rising AI-related opportunities. Client spending is rebounding, especially in BFSI, aided by rupee depreciation and attractive valuations. Top large-cap picks: Infosys and TCS. Tier-2: LTIMindtree and Coforge. On telecom's duopoly, he favors Bharti Airtel (pricing power, ARPU growth, debt reduction) and Indus Towers (Vodafone relief trigger, reduced receivables). Vodafone Idea remains speculative; prefers Indus for indirect play. Overall, 2026 expected to be reasonably good for IT with improving fundamentals; Jio IPO likely by mid-year.