Pending — not yet graded
“Indian IT services companies, especially largecaps like TCS, face headwinds from macro uncertainty and heightened competition, leading to a subdued FY27. Near-term growth for large caps is expected to be weak, with Wipro potentially seeing -1.3% q-q and TechM +1%. Mid-caps are anticipated to post stronger growth. Nomura expects Infosys and HCL Technologies to maintain annual guidance, while Wipro may guide for -1% to +1% revenue growth in 2Q FY27E.”
Nomura Analysis’s track record: 3 graded calls · 95% CI 6–79%
InfosysBearishCalled 09 Jul 2026
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