TCS, Coforge, Mphasis, Persistent rise as Kotak flags soft growth
In short
TCS, Coforge, Mphasis and Persistent Systems rose by as much as 5% after Kotak warned that Q2 growth could be weak.
Kotak still expects margins to hold steady, but it says pressure is showing up in operating numbers. The report does not say if the stock gains will last.
What the reporting says
TCS, Coforge, Mphasis and Persistent Systems gained up to 5% after Kotak said Q2 growth may be muted, according to the headline and publisher summary. Kotak expects margins to remain stable, but also said underlying pressure is becoming more visible in operating metrics. The report does not state the full earnings outlook or whether the gains can continue.
Why it matters
The IT names rose after Kotak flagged muted Q2 growth, while still expecting stable margins. The published summary also says underlying pressure is showing up more clearly in operating metrics. This matters for investors in Indian IT services stocks, but the report does not give the size of the growth slowdown or any company-specific earnings numbers.