IT sector Q2 FY27 preview: TCS, Infosys to HCL Tech, Tech M— Kotak sees muted quarter for Indian IT giants

IT sector Q2 FY27 preview: India’s leading IT services companies are heading into another weak earnings season, with persistent macroeconomic uncertainty and AI-led productivity gains continuing to put pressure on demand.

Brokerage firm Kotak Institutional Equities believes that demand conditions have neither improved nor deteriorated since the June 2026 quarter and therefore another muted quarter for large companies is expected, with HCLT being the notable exception.