India's IT stocks enter the June-quarter earnings season with little room for disappointment. The sector has already suffered one of its sharpest corrections in years. TCS, Infosys, Wipro and LTIMindtree are now down at least 50% from their all-time highs, while the broader pack has seen a steep erosion in market value.
Across 10 major IT companies, the combined market-cap loss from peak levels is estimated at more than Rs 17 lakh crore. TCS has seen the biggest destruction in absolute value. The stock has fallen about 56% from its all-time high of Rs 4,592.25 in August 2024 to Rs 2,033. Its market cap has dropped from Rs 16.48 lakh crore to Rs 7.36 lakh crore, wiping out more than Rs 9.12 lakh crore.
