Nuvama Forecasts Muted Growth For Indian IT
Nuvama Institutional Equities said on April 2, 2026 that India's IT sector is likely to post muted sequential growth in the March quarter, with firms under its coverage projected to report q-o-q changes ranging from −1.7% to 4.7%. The brokerage cited West Asia geopolitical tensions, generative-AI–related anxiety and potential US tariffs as headwinds, while noting nearly 5% rupee depreciation and cost-takeout deals could support margins and deal flows.
Key Points
- 1Projects sector growth between -1.7% and 4.7% q-o-q across its coverage universe
- 2Cites West Asia war, generative-AI anxiety and US tariffs as primary downside drivers
- 3Advises investors margins may hold due to nearly 5% rupee depreciation, but volatility persists
Scoring Rationale
Timely brokerage forecast with company-level q-o-q estimates and sector-wide implications. Scored for moderate novelty and industry-wide scope, useful for investors; credibility limited by single-source brokerage report, slightly boosted for being current and specific.
Sources
Public references used for this report.
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