TCS vs Infosys vs Wipro vs HCL Tech: Which IT stock to buy ahead of Q1 results 2023?

livemint.com:

Q1 results 2023: First quarter results season for the financial year 2023-24 kickstart this week, however Dalal Street is eagerly waiting for 12th July 2023 when IT giants Tata Consultancy Services (TCS) and HCL Technologies will declare their Q1FY24 results. On the following day i.e. on 13th July 2023, Wipro would declare its Q1 earnings for the financial year 2023-24.

So, bargain hunters are expected to remain vigilant about attrition, margins and order intake news in regard to leading Indian IT majors. According to stock market experts, after lower-than-expected fourth quarter growth guidance by Accenture, IT segment in India is expected to remain in base building mode for next one to two quarters and in that case positional investors are expected to start accumulating their preferred IT stocks. They said that among four Indian IT majors, Infosys had given weak guidance after the fourth quarter results in the previous financial year but TCS and HCL Tech had given better quarterly numbers.

They advised positional investors to look at margins, order book intake and rate of attrition. If any of these companies manages to give good news on any of these three front, that is going to become a blue eyed IT stock for both DII and FIIs. On which large-cap IT stock is better placed ahead of Q1 results 2023, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "After Q4 results most of the Indian IT majors had to receive heavy beating but among these four, HCL Tech and TCS managed to recover from that beating.