Sandip Agarwal expects subdued year-on-year constant currency growth, remaining below 5% across large IT firms, to persist into the next quarter. He notes that while book-to-bill ratios are "reasonably okay," they do not signal any major upside or demand revival for the sector.

Sandip Agarwal’s track record: 5 graded calls · 95% CI 12–77%

Nifty ITNeutralCalled 13 Jan 2026Graded 19 Jul 2026
Verdict:MISS

Nifty IT declined from ₹37822.70 to ₹25769.80, a significant drop of 31.87%, which contradicts a neutral outlook.

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