Infosys, KPIT Tech, Wipro, Tata Elxsi: IT stocks hit 52-week lows; here are fresh price targets 

Shares of IT sector firms such as Infosys Ltd, KPIT Technologies Ltd, Wipro Ltd and Tata Elxsi Ltd came under immense selling pressure today, hitting their fresh 52-week lows amid the ongoing market correction. Ahead of the September quarter earnings Kotak Equities said demand conditions have neither improved nor deteriorated since the June 2026 quarter. It expects another muted quarter for large companies, with HCL Tech being the notable exception. Tech Mahindra will lead growth among hybrids, while mid-tier companies will report strong growth led by Persistent Systems , Coforge and Mphasis Ltd.

The brokerage expects a guidance cut from Infosys and an unchanged midpoint for HCL Tech's growth outlook.

Here's a look at outlook and price targets of Infosys Ltd, KPIT Technologies Ltd, Wipro Ltd and Tata Elxsi stocks as investors' folios took a hit today on these IT counters. 

Infosys 

Infosys shares fell to a 52-week low of Rs 980.30. Market cap of the IT firm slipped to Rs 4 lakh crore on Tuesday. RSI of the IT stock stood at 31.2, indicating the stock is trading near the oversold zone. Infosys shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

In terms of price targets, Kotak Equities has assigned a fair value of Rs 1200 to the Infosys stock.

Ahead of the Q2 earnings, the brokerage expects investor focus on:(1) reason for revenue growth underperformance in FY2027E, (2) retention/renewal of mega-deals won in the last few years, (3) split of growth impact between macro weakness and AI-led deflation, (4) pace of conversion of GenAI programs from pilots to scaled deployments and whether these represent net-new revenue or deflation of existing work and (5) levers to defend margins amid elevated pricing pressure.

JM Financial has an add rating on Infosys (new target price: Rs 1,130). 

KPIT Technologies 

KPIT Technologies slipped to a 52 week low of Rs 495.75. Market cap of the IT firm fell to 13,953 crore Rs 4 lakh crore on Tuesday. RSI of the IT stock stood at 31.2, indicating the stock is trading near the oversold zone. Infosys shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. KPIT Technologies has been assigned a fair value of Rs 540 by  Kotak Equities.

For KPIT, the brokerage expects investor focus on (1) visibility of spends among larger clients and investments on new programs by major OEMs, (2) commentary on industry demand and reprioritization of programs, (3) conversion timelines for engagements with new OEMs and factors that would aid better predictability of revenue growth; (4) visibility of demand improvement in Asia and Europe and sustainability in CV vertical; (5) ramp-up of engagements with clients in lower relationship tiers; and (6) indications of success of productized services/solutions offerings among large clients.

JM Financial Services’ Senior Vice President, Derivatives Research, Akshay Bhagwat said the broader setup remains weak despite the stock hovering near an important support band.

“The IT space is still not out of the woods,” Bhagwat said, adding that the news flow around the sector remains “pretty concerning.” He cautioned that this is only a temporary support and may trigger no more than a minor bounce.

Wipro

In the current session, another IT stock Wipro touched its 52 week low of Rs 156.90 in the current session. Market cap of Wipro fell to Rs 1.55 lakh crore. RSI of the IT stock stood at 30.4, signaling the stock is trading near the oversold zone. Wipro shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. Rs 150 is the fair value assigned by Kotak Equities on the Wipro stock. Ahead of the Q2 earnings, Kotak expects investor focus on (1) AI strategy and the measures taken to offset AI deflation on the overall business (2) pricing pressure in renewal deals, (3) timelines for catch-up of growth with peers,(4) GCC growth strategy and (5) integration plans and synergies from recent acquisitions.

JM Financial retained a 'REDUCE' rating on Wipro (new target price: Rs 160)

Tata Elxsi

Tata Group's Tata Elxsi stock also hit a fresh 52-week low of Rs 3110.05 in the current session. Tata Elxsi's market cap fell to Rs 19,626 crore. RSI of the IT stock stood at 27, signaling the stock is trading in the oversold zone. Tata Elxsi shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

Kotak Equities has assigned a fair value of Rs 3,000 to the Tata Elxsi stock.

Kotak expects investor focus on: (1) overall demand outlook in SDS segment and medium-term growth aspirations; (2) commentary on engagements with JLR and large Japanese clients in transportation; (3) visibility of transportation segment growth acceleration to high-single digits yoy by 4QFY27; (4) demand outlook of media & communications vertical, which has aided growth albeit at lower-than company average profitability; (5) pipeline conversion and growth outlook in healthcare and (6) progress on scale-up of adjacencies in each of the three focus verticals.