Why I.T. Stocks Are Rallying Despite Muted Q1 Results From Wipro, Tech Mahindra?

I.T. stocks witnessed a strong rebound despite muted Q1 earnings from major players like Wipro and Tech Mahindra. While Wipro declined after its results, Tech Mahindra gained, helping lift sentiment across the sector. Speaking to Business Today, Mayuresh Joshi, Head Equity Research, William O Neil India, said the recent rally is being driven by attractive valuations after a prolonged correction, earnings broadly meeting expectations, and improving AI-related deal wins. He also noted that I.T., along with pharma, is emerging as a defensive sector amid rising geopolitical uncertainty and global market volatility. Watch this video for key insights into the latest I.T. sector outlook and market trends.