IT Stocks Dip Ahead of TCS Q1 Results; Soft Earnings Expected

IT stocks slipped on July 9 as investors awaited Q1 FY26 results, dragging the Nifty IT index down nearly 0.5% to around 38,801. Tata Consultancy Services (TCS) will kick off the earnings season with its Q1 results on July 10. Analysts expect a muted performance due to global uncertainty and the BSNL deal ramp-down. Equirus Capital forecasts a 0.4% dip in constant currency revenue and lower deal wins, while Axis Securities expects a 0.3% revenue decline and flat EBIT margins