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HDFC Securities Institutional Equities
The Indian IT services sector is expected to report another subdued quarter in Q1 FY27, as macroeconomic uncertainty, cautious client spending, delayed decision-making and concerns over AI-led disruption continue to weigh on revenue growth, according to brokerage HDFC Securities.
The brokerage expects tier-1 IT companies to report constant-currency revenue growth ranging from a decline of 1.3% to an increase of 1.1% sequentially. Among large-cap firms, Infosys and Tech Mahindra are likely to emerge as the strongest performers, with projected constant-currency growth of 1.5% and 1.1%, respectively. In contrast, TCS, HCLTech and Wipro are expected to post flat-to-negative sequential growth.
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