Indian IT sector is set to announce its results for the quarter and financial year ended on March 31, 2026, beginning with Tata Consultancy Services (TCS) on April 09, 2026.
Alongside TCS, the brokerage has named LTIMindtree Ltd and Persistent Systems Ltd as its top picks, with a ‘Buy’ call on both
JP Morgan believes that revenue guidance of IT will be the most important factor for the sector, marking the first time in nearly eight years this has been the case, amid widespread pessimism.
Nifty IT has experienced a steep decline, falling by 18 per cent over the past year, underscoring the sector's challenges during AI-led disruption.
India’s IT sector is back in focus after brokerage Nuvama Institutional Equities turned bullish on the space despite recent underperformance. The brokerage has upgraded several top IT services companies including HCLTech, Wipro, Tech Mahindra and Hexaware Technologies to a “Buy” rating, highlighting strong medium-to-long-term prospects. While concerns around Artificial Intelligence disrupting traditional IT services remain, experts believe companies that adapt and integrate AI into their offerings could emerge as long-term winners. After a sharp correction, valuations across the sector have turned attractive, with several stocks trading at or below benchmark levels. Market experts suggest investors track upcoming earnings commentary closely, as companies outline how AI adoption could shape future growth for India’s IT services industry.
With the IT shares correction, the Nifty IT index has crashed 20.67% in 2026. Shares of major IT firms such as Wipro, Infosys and TCS plunged to their 52-week lows in the previous session.
Among Sensex constituents, Tech Mahindra gained 2.77% to Rs 1383.85. HCL Technologies rose 2.66%.
IT stocks led the losses on Nifty today with the Nifty IT index plunging 1675 points or 5.3% to a fresh 52 week low of 29,875.
IT majors including Infosys Ltd, Tata Consultancy Services (TCS), HCL Technologies Ltd and Tech Mahindra Ltd also weighed on sentiment. Other key losers included Bharti Airtel Ltd, Eternal Ltd and Trent Ltd. The entire realty index ended the session in the red.
Selling in heavyweights like HDFC Bank Ltd, Larsen & Toubro (L&T), Bharti Airtel and ICICI Bank dragged the benchmark indices lower. IT majors including Infosys Ltd, Tata Consultancy Services (TCS), HCL Technologies Ltd and Tech Mahindra Ltd also weighed on the market.
A third of this m-cap erosion is seen by TCS at Rs 3,61,465 crore or $40 billion. This does not include Tuesday's losses. Infosys contributed another $21 billion, Wipro Ltd $10 billion and HCL Technologies Ltd $6.50 billion.
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