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TCS, HCLTech Shares Slip Ahead Of Q3 Results; What Are Brokerages Forecasting?
TCS, HCLTech Shares Slip Ahead Of Q3 Results; What Are Brokerages Forecasting?
TCS, HCLTech Shares: Shares of IT majors Tata Consultancy Services (TCS) and HCLTech were trading marginally lower on January 12 ahead of their December quarter results, with both companies set to announce their Q3 numbers after market hours. The broader IT index was also down about 0.6 per cent in morning trade.
Tata Consultancy Services, India's largest IT services exporter, was trading 0.3 per cent lower at Rs 3,198 per share at around 11 am. Analysts expect the company to report 4.2 per cent year-on-year revenue growth, slower than the 5.6 per cent growth posted in the same quarter last year.
TCS is the first among Indian IT firms to report earnings this season. According to nine brokerages cited by Reuters, the sector is likely to post a muted quarter due to weak US demand and client shutdowns during the holiday period.
Ambit Capital flagged near-term risks to TCS' outlook, noting concerns over higher international market growth expectations in FY26 compared with FY25, given elevated ask rates of about 1.5 per cent compounded quarterly growth rate over H2FY26.
TCS shares declined 20.4 per cent in 2025, underperforming the IT index, which fell 12.5 per cent during the same period.
HCLTech shares were trading 0.6 per cent lower at Rs 1,652 apiece in morning trade on January 12, ahead of its Q3 results announcement later in the day.
Analysts, on average, expect consolidated revenue of Rs 33,046 crore, compared with Rs 29,890 crore in the year-ago quarter, according to data compiled by LSEG. Most brokerages do not expect the company to upgrade its FY26 annual revenue growth guidance of 2 per cent to 3 per cent.
In 2025, HCLTech shares fell 15 per cent, while the Nifty IT index declined 12.6 per cent.
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The USD 283-billion Indian IT industry continues to face macro headwinds, including uncertainty over US tariffs, challenges from proposed USD 100,000 visa fees, and subdued client spending due to concerns over growth in the world's largest economy. The United States remains a critical market, as Indian IT companies derive a significant portion of their revenue from the region.
Sector bellwether Accenture recently beat Wall Street earnings expectations on AI-led demand, but its unchanged growth outlook highlights the cautious near-term environment. While India does not yet have pure-play AI firms, domestic IT companies are shaping their AI strategies through acquisitions and partnerships. Brokerages expect AI momentum to strengthen over the next six months, with demand likely to pick up into 2026.
Source: News18
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