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Brokerage flags upside in Indian IT stocks ahead of Q2 results

HDFC Securities expects Indian IT sector growth to be weak in Q2 FY27, even though the quarter is typically a strong one for the industry.

Reported · Written up by our desk · Sectors

HDFC Securities has kept a broadly positive view on several Indian IT stocks, citing potential upside from current levels ahead of upcoming Q2 earnings.

In the brokerage’s coverage, TCS has a new target price of ₹2,470, implying 20% upside, with an ADD rating, while Infosys has a target of ₹1,250, implying 26% upside and a BUY rating.

HCL Technologies has a revised target of ₹1,370, implying 11% upside with an ADD rating, and Wipro’s target is ₹185, indicating 17% upside. Tech Mahindra is given a target of ₹1,660, offering 9% upside with an ADD rating.

For larger names, L&T Technology Services has a revised target of ₹5,270, implying 30% upside with a BUY rating, while Mphasis has a target of ₹2,840 for 32% upside. HDFC Securities also expects the Indian IT sector to report weak growth in the second quarter of FY27.

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