Modest Q3 awaits IT big caps as weak demand curbs momentum

Large-cap companies, such as Tata Consultancy Services, Infosys, HCLTech, Wipro and Tech Mahindra, are estimated to report revenue growth of up to 2.3% in constant currency terms sequentially in Q3FY26. The muted quarter comes as furloughs and continued macro uncertainty keep near-term revenue traction subdued.