IT companies declare Q2 Results: Brokerages on TCS, Infosys, HCL and Wipro shares

New Delhi: After the results of Q2FY26, investors’ interest in the IT sector has started increasing. A few days ago, when news about H1-B visa fee hike came from the US, India's IT stocks including foreign countries had declined significantly. But later the US government clarified its decision, after which the situation improved. In this article, we will be providing information about HCL Technologies, TCS, Infosys and Wipro. Considering the results of these four companies and the opinions of brokerage houses, it will help investors make the right decisions.

HCL Technologies performed brilliantly in Q2 FY26. In this quarter, the company's consolidated net profit was recorded at Rs 4,236 million, which indicates an increase of 10.2 percent. Revenue reached Rs 31,942 crore, which is a QoQ increase of 5.2 percent. EBIT also increased by 12.3 percent with Rs 5,550 crore.

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Brokerage house Prabhudas Lilladher released a report on Tuesday, October 14. The brokerage has given a BUY rating on HCL stock and said that the growth in IT services and ER&D will benefit the company. The current share price (Friday, October 17) is Rs 1,487.40 and the target is Rs 1,760, which can give investors a return of about 20 percent from the current price. Motilal Oswal Financial Services has set a target of HCL at Rs 1,800, which is expected to generate returns of around 25 to 30 percent. Similarly, Centrum has also upgraded HCL to BUY, targeting Rs 1,691.

TCS has shown stable and strong performance in Q2 FY26. In this quarter, the company's revenue was Rs 65,799 million, which shows a quarter-on-quarter growth of 3.7 percent. Net profit reached Rs 12,904 crore, a YoY increase of 8.4 percent. The operating margin was 25.2 percent. TCS's foreign business is very diversified, in which about 94 percent of its revenue comes from foreign markets. The company has increased investment in AI-driven data centers and cloud projects, which has further strengthened its global presence.

Brokerage houses consider TCS to be a stable and reliable investment for the long term, and the share target price has been given from Rs 3,330 to Rs 3,690. Several brokerage houses have released their reports for TCS. This includes Motilal Oswal (Buy, Rs 3500), GM Financial Rs 3520), Goldman Sachs Rs 3330, Nuwama Rs 3650. However, the company's stock price fell 0.29 percent on Friday, 17 October and closed at Rs 2,962.20 apiece.

Infosys showed both growth and strength in Q2 FY26. The company's revenue stood at Rs 44,490 crore, indicating a quarter-on-quarter increase of 5.2 percent. The company's net profit stood at Rs 7,364 crore, an increase of 13 percent YoY. Operating margins remained steady at 21 percent. The main part of Infosys' foreign business comes from the US market.

The target price of the brokerage house for Infosys shares is between Rs 1,575 and Rs 1,705. For this, Jefferies has given a target price of Rs 1660 to the company at a buy rate, while Incred Equities has also given a TP of Rs 1575 to the company with a buy/add rate. However, on Friday, the company's shares fell 2.07 percent and closed trading at 1,441.10 rupees.

Wipro's Q2 FY26 performance was mixed. Revenue of IT services reached USD 2.6 billion, indicating a 0.7 percent QoQ increase. EBITM stood at 16.7 percent, which includes the impact of provisions related to the bankruptcy of a client. The company improved big deals and AI-powered services, but the pressure on margins remained. Wipro's business is currently in the era of AI-based transformation.

Brokerage house Emkay has given it a REDUCE rating. The brokerage house released a report on the company on Friday, October 17. According to the report, the current market price of Wipro shares is Rs 254 and based on this, the brokerage has given a TP of Rs 250 with a reduction rating. However, by the time the market closed on Friday, the stock price had broken down to Rs 240.90.