Infosys, Wipro ADRs slip signalling muted start for IT stocks after TCS results

American Depository Receipts (ADR) of Infosys and Wipro declined in US trading on Thursday, April 9, reflecting subdued investor sentiment towards Indian IT stocks following the March quarter results of Tata Consultancy Services (TCS).

Infosys ADRs dropped as much as 2.6%, while Wipro ADRs were down about 1–2% on the New York Stock Exchange (NYSE), indicating a potentially soft start for the sector in domestic trade.

TCS Q4FY26 results
TCS, which announced its Q4 FY26 earnings after market hours on April 9, delivered a broadly in-line performance. In constant currency terms, revenue grew 1.2% sequentially, slightly ahead of Street expectations that ranged between 0.6% and 1.4% and what marks the Tata Group IT firm’s strongest sequential growth in seven quarters.

TCS net profit rose 29% quarter-on-quarter to ₹13,718 crore, closely matching estimates from a CNBC-TV18 poll. Revenue increased 5% sequentially to ₹70,698 crore, also surpassing projections. The company declared a final dividend of ₹31 per share.

Despite the steady numbers, ADR reactions suggest investors remain cautious on near-term demand visibility and global macro conditions.

Wipro share buyback

Separately, Wipro said its board will consider a share buyback on April 16, its first such move in nearly three years. The company last executed a ₹12,000 crore buyback in June 2023, repurchasing 26.96 crore shares at ₹445 apiece.

The D-Street is expected to closely track management commentary across companies as the earnings season unfolds, with guidance likely to dictate the sector’s near-term trajectory.

Meanwhile, Gift Nifty traded 79 points, or 0.33%, higher at 10.22 pm IST, suggesting a positive start. On Wall Street, the S&P 500 and Dow Jones Industrial Average gained roughly 0.5%, while the Nasdaq Composite advanced 0.7% to session highs.

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