TCS, Infosys to Tech Mahindra: Nifty IT index dips after weak Capgemini earnings

Stock market today: Shares of IT companies declined in the early morning trade on Wednesday, February 19, following a weak set of earnings announcements by the French IT consulting firm Capgemini. Capgemini reported a 2% decline in its annual constant currency sales, Reuters reported, but narrowly beat analyst estimates, helped by sustained demand for its cloud and AI services. Expert Take Sagar Shetty, Research Analyst, Stoxbox said Capgemini's recent earnings report has had a noticeable impact on major IT companies such as TCS, Infosys, HCL Tech, TechM, and LTIM. “The decline in the IT index is mainly due to Capgemini's subdued outlook for 2025, with a revenue growth target of -2.0% to +2.0% at constant currency.