Infosys, TCS, Tech Mahindra, HCL Tech, Wipro: Check fresh target prices
Tata Consultancy Services Ltd (TCS) commands a (+) rating from the brokerage, with a target price of Rs 3,250 apiece.
- Jun 9, 2026,
- Updated Jun 9, 2026 4:20 PM IST
The global IT services sector is currently on a watchlist for investors. Amid this, according to the latest sector research report by BNP Paribas, the industry's constant currency revenue growth remained steady at 3% year-on-year for the quarter ending March 2026.
The median deal total contract value (TCV) growth decelerated to roughly 3% year-on-year, a drop from the 8% growth witnessed in the previous quarter, it noted.
“Our outlook index, built on management commentary across the companies, indicates a modest decline in revenue growth expectations driven by geopolitical uncertainty, a slight softening of the deal win outlook, and aggressive pricing pressure from the vendor consolidation that has tempered margin expectations,” BNP Paribas said.
According to the brokerage note, businesses have moved from discretionary experimentation to disciplined, outcome-focused spending, finding ways to fund these AI ventures through rigorous cost optimization and automation.
“Across verticals, IT firms remain confident about BFSI and CMT verticals while outlook for Manufacturing, CPG & Retail, E&U and Healthcare verticals deteriorated q-q,” it said.
IT stocks target prices
Tata Consultancy Services Ltd (TCS) commands a (+) rating from the brokerage, with a target price of Rs 3,250 apiece. Infosys Ltd has also secured a (+) rating, with its target price set at Rs 1,670.
While Tech Mahindra Ltd and Persistent Systems Ltd hold a (+) rating with a target price of Rs 1,840 and Rs 6,300, respectively. LTM Ltd has been assigned an (=) rating with a target price of Rs 4,830. Mphasis Ltd also has a (=) rating, with the brokerage pegging its target price at Rs 2,430.
HCL Technologies Ltd has been handed a (-) rating by BNP Paribas, carrying a target price of Rs 1,345 per share. Wipro Ltd also has a (-) rating with a target price of Rs 205 apiece.
The global IT services sector is currently on a watchlist for investors. Amid this, according to the latest sector research report by BNP Paribas, the industry's constant currency revenue growth remained steady at 3% year-on-year for the quarter ending March 2026.
The median deal total contract value (TCV) growth decelerated to roughly 3% year-on-year, a drop from the 8% growth witnessed in the previous quarter, it noted.
“Our outlook index, built on management commentary across the companies, indicates a modest decline in revenue growth expectations driven by geopolitical uncertainty, a slight softening of the deal win outlook, and aggressive pricing pressure from the vendor consolidation that has tempered margin expectations,” BNP Paribas said.
According to the brokerage note, businesses have moved from discretionary experimentation to disciplined, outcome-focused spending, finding ways to fund these AI ventures through rigorous cost optimization and automation.
“Across verticals, IT firms remain confident about BFSI and CMT verticals while outlook for Manufacturing, CPG & Retail, E&U and Healthcare verticals deteriorated q-q,” it said.
IT stocks target prices
Tata Consultancy Services Ltd (TCS) commands a (+) rating from the brokerage, with a target price of Rs 3,250 apiece. Infosys Ltd has also secured a (+) rating, with its target price set at Rs 1,670.
While Tech Mahindra Ltd and Persistent Systems Ltd hold a (+) rating with a target price of Rs 1,840 and Rs 6,300, respectively. LTM Ltd has been assigned an (=) rating with a target price of Rs 4,830. Mphasis Ltd also has a (=) rating, with the brokerage pegging its target price at Rs 2,430.
HCL Technologies Ltd has been handed a (-) rating by BNP Paribas, carrying a target price of Rs 1,345 per share. Wipro Ltd also has a (-) rating with a target price of Rs 205 apiece.