JM Financial Sees Soft Q2 for IT Majors, Flags Margin Relief and Select Upside in TCS, Infosys
JM Financial expects Indiaโs top information technology companies to report a subdued second quarter, with weak discretionary spending, persistent pricing pressure and a cautious global macro backdrop weighing on near-term growth. Even so, the brokerage sees room for selective upside in large-cap names such as TCS and Infosys, arguing that easing wage inflation and improving margins could support earnings resilience.
