Infosys, Wipro results today to test investor appetite for IT stocks
After mixed quarterly earnings from Tata Consultancy Services Ltd. and HCL Technologies Ltd., the focus now shifts to Infosys Ltd. and Wipro Ltd. which are going to report their second-quarter results today.
Investors will watch for signs of stability in an IT sector marred by US H-1B visa shock as well as US HIRE Act that proposes a 25% “outsourcing tax”. That, when discretionary spending by clients hasn’t particularly revived even as AI threatens to upend business models and spur layoffs.
