Indian stock market investors are likely to see more action in October as companies roll out their financial results for the September quarter (Q2FY27), with Street expectations remaining muted.
Domestic tech majors such as TCS, Infosys, Wipro, and HCL Technologies will kick off the earnings season, and investors will closely watch key metrics along with management commentary, given that these stocks have been having a very rough time on the exchanges and have been falling to multi-year lows.
The domestic IT sector has been facing multiple headwinds this year, including macroeconomic uncertainty, AI-led disruptions, and geopolitical tensions, which are expected to continue weighing on discretionary spending and decision-making cycles.
Indian IT companies derive a significant portion of their revenue from North America and are considered highly sensitive to US economic uncertainty and trends in corporate technology spending.
These challenges, coupled with expectations of further monetary tightening and another possible US Federal Reserve interest rate hike in 2026, have weighed on investor sentiment, prompting overseas investors to trim their exposure to the sector and leaving Nifty IT as the worst-performing sectoral index.
IT stocks Q2 FY27 results: When will TCS, HCL Tech, and Infosys announce earnings?
The September-quarter earnings season will see India’s major IT companies report their Q2 FY27 financial results in October, with Tata Consultancy Services (TCS), HCL Technologies, and Infosys among the key names investors will track.
TCS is scheduled to announce its September-quarter results on Thursday, October 8, 2026. The company’s board will meet to approve the standalone and consolidated results and will also consider declaring a second interim dividend.
TCS had released its Q1 FY27 results post-market hours and is therefore expected to be announced after market hours, around a similar time.
HCL Technologies will announce its Q2 FY27 results on Monday, October 12, 2026. The company has scheduled a board meeting to consider the financial results for the quarter, and half year ended September 30. HCL Tech had also announced its Q1 results post-market hours, so the September-quarter results are also expected to come after market hours, around the same time.
Meanwhile, Infosys is scheduled to announce its September results on Friday, October 23, 2026. The company has also scheduled earnings call on the same day, where senior management will discuss the quarterly performance and take questions from analysts and investors.
Which IT companies are expected to deliver better Q2 growth?
Domestic brokerage firm Kotak Institutional Equities believes that demand conditions have neither improved nor deteriorated since the June 2026 quarter. Therefore, another muted quarter is expected for large IT companies, with HCL Tech being the notable exception.
According to the brokerage firm, among the large IT companies, HCL Tech is expected to post the strongest organic growth, with revenue likely to rise 2% quarter-on-quarter (QoQ) and 2.4% year-on-year (YoY). Infosys is expected to grow 1.1% QoQ and 0.2% YoY, while TCS may see slower growth of 0.5% QoQ and 2.8% YoY.
Among mid-sized and hybrid IT companies, Tech Mahindra is expected to perform well, with growth of 1.6% QoQ and 6.6% YoY. LTIMindtree (LTM) is likely to grow 1% QoQ, while its YoY growth may slow to around 5%, the brokerage added.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
