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Infosys Shares Jump on Strong FY2026 Outlook, Lifting IT Stocks

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Shares of Infosys rose about 5% on Friday after the company unexpectedly raised its fiscal 2026 revenue forecast, boosting sentiment across India’s IT sector.

Infosys now expects revenue growth of 3%–3.5% in the year ending March 2026, up from its earlier 2%–3% outlook. The stock led gains on the Nifty 50, while the Nifty IT climbed 2.2%.

Analysts said AI-led partnerships and vendor consolidation are strengthening Infosys’s competitive position. The company has won AI-driven deals with Adobe and Siemens AG, and its large-deal order book rose to a two-year high of $4.8 billion.

At least three brokerages, including Jefferies, raised target prices after the results. The upbeat outlook follows comments from Tata Consultancy Services earlier this week pointing to solid demand in 2026, helping lift broader IT stocks, including Wipro.

India’s IT sector rebounds as clients boost spending on AI and automation projects

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India’s leading IT firms — Infosys, Wipro, and LTIMindtree — beat quarterly revenue forecasts on Thursday, signaling a turnaround in demand as global clients begin investing again, especially in artificial intelligence (AI) and automation projects.

The upbeat results follow a strong performance by Tata Consultancy Services (TCS) last week, raising optimism for India’s $283 billion IT industry, which had been struggling with weak discretionary spending and tariff-related uncertainty.

“We are benefiting from consolidation plays on automation and on using AI for efficiency,” said Infosys CEO Salil Parekh, highlighting “huge opportunities in enterprise AI.” Infosys now expects full-year revenue growth of 2–3%, narrowing its earlier forecast of 1–3%, supported by strong deal bookings.

Wipro CEO Srini Pallia noted a similar trend: “New demand that’s picking up is AI. Clients want to move away from proofs of concept to implementing AI across business processes and workflows.”

Analysts say the results mark a stabilization in the IT sector, with demand returning from industries such as banking and financial services. StoxBox analyst Sagar Shetty said the numbers show “a sector gradually regaining traction amid shifting client priorities toward AI and digital acceleration.”

Smaller rival LTIMindtree also exceeded revenue estimates, driven by strength in its banking portfolio, while analysts at Anand Rathi said “most Indian IT firms are showing green shoots,” indicating that the worst of the slowdown may have passed.

India’s Wipro tops quarterly revenue estimates on strong Asia and Americas growth

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Indian IT major Wipro Ltd. posted stronger-than-expected results for the July–September quarter, supported by solid performance in its Asia-Pacific and Americas communications divisions and a healthy pipeline of large contracts.

The Bengaluru-based company reported a 1.8% year-on-year rise in consolidated revenue to 226.97 billion rupees ($2.58 billion), slightly above analysts’ estimates of 226.90 billion rupees, according to LSEG data. Wipro said it expects revenue growth between -0.5% and 1.5% for the current quarter, in line with market expectations, implying revenue of $2.59–$2.64 billion.

Net profit for the quarter rose 1.2% to 32.46 billion rupees, just below the forecast of 33.01 billion rupees. Among its major markets, Asia Pacific led growth at 3.1%, followed by Americas One at 0.5%, while other segments saw moderate momentum.

Wipro benefited from securing two mega deals worth over $500 million each — one with the UK’s Phoenix Group and another with a U.S.-based telecom provider — making it the only top-five Indian IT company to achieve two such contracts this fiscal year.

The company’s total deal bookings reached $4.69 billion, down from $5 billion in the previous quarter but up significantly from $3.6 billion a year earlier.

Peers Tata Consultancy Services (TCS) and HCLTech also exceeded revenue forecasts earlier this month, citing stronger demand in the second half of the fiscal year, signaling a broad recovery for India’s IT services sector.