Infosys vs TCS vs Wipro vs HCL Tech: Which IT stock is better after Q1 results 2023

livemint.com:

Q1 results 2023: After Infosys Q1 results 2023, all four major Indian IT companies have declared their first quarter numbers for the current financial year. As Indian stock market is in bull trend and IT stocks are trading at highly discounted prices, it is important from a long term investor's perspective as to which IT company has delivered better Q1 numbers and which large-cap IT stock is comparatively better for long term investors.

According to stock market experts, out of Tata Consultancy Services (TCS), Infosys, Wipro and HCL Tech, Infosys and HCL Tech have cut down their revenue growth outlook fro the financial year 2023-24, hence these two large-cap IT stocks are expected to remain under pressure and trade sideways to negative in short term. TCS has delivered comparatively better Q1 results 2023 among these four.

But, from technical perspective, Wipro is looking positive as the market has discounted the Q1 results impact on the IT stock. Commenting upon the Q1 results 2023 of four Indian IT majors, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Out of the four large cap Indian IT companies, TCS has delivered comparatively better quarterly numbers in comparison to other three IT companies.

But, due to weak guidance call by Infosys, most of the IT stocks are expected to remain under pressure in short term. Hence, fresh entry is advised in TCS shares at around ₹3,300 apiece levels." On what chart pattern of these four IT companies suggest, Sumeet Bagadia, Executive Director at Choice Broking said, "Wipro share price may witness buying interest at support levels as market has already discounted its Q1 results and now Infosys led sell off has further brought this IT stock at an attractive