IndiGo, Asian Paints, Reliance Industries, Bajaj Finance and SBI were the top losers today, falling up to 2.80%.
Q1 results expectations: TCS is expected to post near-flat sequential dollar revenue growth of 0.2%, with EBIT margin seen falling by 90 basis points. HCLTech and Wipro are also projected to report sequential revenue declines, reinforcing the view that broad-based recovery remains elusive.
As Q1FY27 earnings season kicks off, banks and IT are set for contrasting stories. Banks look set for a strong quarter, with credit growth at a multi-year high of 17.7% YoY, though deposit mobilization lags and margins face mild pressure at large private banks like HDFC, ICICI and Axis. MOFSL's top picks are SBI, ICICI Bank, HDFC Bank and AU Small Finance Bank. IT, on the other hand, is bracing for a subdued quarter as weak discretionary spending and AI-led cost optimisation weigh on revenue, with a softer rupee offering some margin cushion. Infosys and Tech Mahindra are seen as relative outperformers, while TCS, HCLTech and Wipro may report softer trends.
Nirmal Bang has a 'Sell' rating on TCS, Infosys, HCL Tech, Wipro, Tech Mahindra and LTIMindtree, while KPIT Technologies is its only 'Buy' pick.
Eternal, Infosys, SBI, Titan, HDFC Bank, HCL Technologies and TCS were the top gainers today, rising up to 1.18%. The stock market rose amid crude oil prices trading below $70 per barrel.
Equirus expects a muted Q1 for Indian IT companies but remains bullish on Infosys, TCS, Tech Mahindra, KPIT and Netweb. Check target prices and outlook.
Stock-wise, the brokerage has revised its recommendation on five IT counters -- HCLTechnologies Ltd, Mphasis Ltd, Persistent Systems Ltd, Tech Mahindra Ltd and Zensar Technologies Ltd.
TCS, Infosys, Wipro, HCL Tech and Tech Mahindra have seen a sharp correction as AI disruption and weak demand hit Indian IT. Check JP Morgan and JM Financial's latest outlook.
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.
Nuvama is positive on IT stocks. It prefers Coforge Ltd, Mphasis Ltd, Hexaware, Firstsource, Tech Mahindra (TechM), LTM Ltd, Infosys Ltd and Tata Consultancy Services Ltd (TCS).
Sensex rose 393 points to 77,896 and Nifty gained 150 pts to 24,325 in early deals today. Among Sensex constituents, HCL Tech, Tech Mahindra, Tata Steel, TCS and Infosys were the top gainers today, rising up to 4%.




