dropped 13–15% after weak Q1 results and growing global trade tensions. All 10 Nifty IT constituents ended in red, with HCL Tech losing the most (15%), followed by Persistent (-14.6%), TCS (-13%), and Wipro (-6%). What triggered the fall? Disappointing earnings, muted growth guidance, and cautious global clients—especially from the US—spooked investors. TCS missed revenue estimates, reporting just 1.3% YoY growth and even announced a 2% workforce cut (12,000 jobs) to become “future-ready.” HCL Tech's profit dipped 9.7%, and it cut its margin forecast. Infosys grew 7.5% but flagged uncertain demand ahead, while Wipro gave weak guidance (-1% to +1%). Behind the curtain, U.S. tariff fears are back. Trump imposed a 25% tariff on Indian imports and hinted at more penalties, citing trade imbalances. This has raised costs for US clients and led to delays in discretionary IT spending. Two out of five tech execs now say they're deferring projects. Chip and cloud spends are being prioritized over outsourcing. Brokerages like CLSA warn that rising uncertainty, US Fed rate pauses, and inflation risks may further impact IT deals. With earnings pressure, shrinking margins, and policy headwinds, July proved a reality check for India’s $283 billion IT sector. Keep IT stock on Radar for Monday

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