Kotak expects a weak June quarter for Indian IT companies amid GenAI-led deflation and macro headwinds. Check its latest buy, sell and reduce ratings on TCS, Infosys, Coforge, Wipro and more.
IT stocks: Shares of IT sector leaders such as TCS, Infosys and Tech Mahindra are trading near their 52 week lows.
IT stocks: TCS stock slipped 3% to a fresh low of Rs 2037.50 today against the previous close of Rs 2096.95. Shares of Infosys slipped nearly 3% to a fresh low of Rs 1006 today against the previous close of Rs 1036.80.
The recent selloff in IT stocks has raised concerns among investors, but experts believe the sector is going through a transformation rather than a long-term slowdown. Indian IT companies are increasingly adopting AI, automation, data centers, and outcome-based business models to drive future growth. During the discussion, Deven Choksey, MD, DR Choksey FinServ Private, said that the ongoing shift from time-and-effort billing models to outcome-based revenue models could create significant opportunities for technology firms. He noted that while large-cap IT companies may continue to deliver modest growth, select mid-cap players could outperform. Choksey specifically highlighted Tata Technologies, Tata Elxsi, and LTTS as companies with strong growth visibility across engineering, automotive, aviation, and industrial automation segments.
In contrast to the other two group stocks' trend today, Tata Chemicals stock jumped 2.89% to Rs 745.25 apiece.
The stock was trading 0.78% lower at Rs 4,223.60 apiece on the BSE, sliding down from its previous close of Rs 4,256.85.
Tata Steel Ltd: Following a board meeting on May 15, the steel major announced a dividend of Rs 4 per share with a face value of Re 1.
Dividend history: Looking further back, the company paid Rs 60.60 in June 2023, handed out a final dividend of Rs 42.50 in June 2022, and issued a special dividend of Rs 24 in June 2021.
Stocks like LIC, PB Fintech, Reliance, Wipro, Coal India, Swiggy, GMR Airports, RITES, Lupin, PhysicsWallah, Tata Elxsi, Ashok Leyland and more will be in the spotlight on Friday, May 29.
Stocks like Coal India, ONGC, Tata Elxsi, Siemens, Canara Bank, JK Tyre, Vodafone, RIL, GIC of India, Bharti Airtel and more will be in the spotlight on Wednesday, May 27.
A domestic brokerage noted that Tata Elxsi's investments in artificial intelligence-led capabilities are aiding operational efficiency.




