Infosys Vs TCS: Guidance trim vs 24% margin—which IT stock offers better risk-reward after Q1?

The first quarter of FY27 showed that India’s two largest IT services companies were no longer telling exactly the same story. Infosys reported a softer quarter, lowered the upper end of the FY27 constant currency revenue growth guidance and acknowledged that softer pricing and AI-led productivity gains were weighing on growth expectations. Tata Consultancy Services (TCS) opened the year with stable revenue, industry-leading profitability, strong deal wins and continued cash returns to shareholders.