Reema Tendulkar

Moshe Katri, Managing Director-FinTech & Tech-Enabled Services Investment Banking at Wedbush Securities discusses why TCS' April-June quarter of 2026 (Q1FY27) was better than feared, why concerns over Microsoft, Amazon and OpenAI are overblown, and why artificial intelligence (AI) could follow the same growth path as cloud and digital transformation.

Krishna Sanghavi, Chief Investment Officer - Equities at Mahindra Manulife Investment Management, favours private banks, manufacturing, capital goods and defence, citing policy support, corporate investment and India's shift towards bottom-up growth. Sanghavi added that upstream oil and gas companies with volume growth also remain attractive.

Swarup Mohanty, Vice Chairman & CEO of Mirae Asset Mutual Fund and Pranav Haldea, MD of Prime Database Group explain why mutual funds are becoming more selective, what is driving IPO participation, and how a record pipeline of ₹5 lakh crore worth of IPOs could shape the market.

NBFCs are expected to report healthy loan growth in Q1 FY27, supported by resilient demand across diversified lenders, microfinance and gold finance. However, elevated funding costs and margin pressure are likely to shift investor focus towards earnings quality, credit costs and profitability. While microfinance is showing signs of recovery and gold loans remain a key growth segment, analysts expect investors to closely monitor NIMs, asset quality and funding costs during the earnings season.

Prashant Paroda, Portfolio Manager-Emerging Markets at Allspring Global Investments explains why the fund has selectively added infrastructure stocks in India, maintained its exposure to financials, and is staying cautious on IT services until earnings visibility and management commentary improve.

UTI AMC CEO Vetri Subramanian said banking and financial stocks remain his highest-conviction investment idea as favourable valuations, healthy balance sheets and sustained credit growth could support earnings growth and a valuation re-rating. He also said current IT valuations justify staying invested, with AI integration likely to create opportunities for Indian technology companies, while urging caution on sectors trading at elevated valuations such as defence.

LTM (formerly LTIMindtree) reported a steady June quarter, with profit rising nearly 6% and operating margins beating Street estimates despite largely flat revenue growth. Management remained optimistic, citing a strong order book and healthy demand pipeline.

Motilal Oswal's note said that LTM has gone through a difficult transition of up-fronting productivity pass throughs in its BFS/Hi-tech accounts and this creates a slight advantage over its peers in FY27.

Sandip Agarwal, Fund Manager at Sowilo Investment Managers LLP, expects IT services companies to benefit by combining infrastructure with software and AI capabilities, giving them a stronger competitive edge. He also argued that the market is mistaking a structural technology disruption for a normal business cycle, saying the convergence of hardware and software is unlike anything seen in decades.

Sanjay Parekh, Founder & CIO of Sohum Asset Managers Pvt Ltd, said geopolitical tensions and supply-chain risks could keep markets range-bound. He said the fund has increased exposure to large-cap leaders including Bharti Airtel, Reliance, Mahindra & Mahindra, Maruti Suzuki and Infosys. Parekh also expects Grasim's renewable investments to contribute over the next 12-18 months and sees listing gains in SBI Mutual Fund's IPO.