# IT Stocks to Add Before Q2 Results

> HDFC Securities targets 20-34% upside for TCS, HCL Tech, and Mphasis ahead of Q2 earnings.
- Title: IT Stocks to Add Before Q2 Results · mint | Shortify
- Summary: HDFC Securities targets 20-34% upside for TCS, HCL Tech, and Mphasis ahead of Q2 earnings. HDFC Securities recommends TCS, HCL Tech, and Mphasis with 20-34%…
- Keywords: tcs, hcl tech, mphasis, hdfc securities, q2 results, fy27, it stocks, target price, upside, money, business, Stocks
- Source: mint — https://livemint.com/market/stock-market-news/tcs-hcl-tech-to-mphasis-it-stocks-to-add-in-portfolio-ahead-of-q2-results-check-target-price-upside-preview-11791182199262.html
- Author: Vaamanaa Sethi
- Published: 2026-10-05T07:22:40+00:00
- Read time: 1 min
- Topics: tcs, hcl tech, mphasis, hdfc securities, q2 results, fy27, it stocks, target price, upside, money, business
## HDFC Securities Recommends IT Stocks
HDFC Securities has recommended IT stocks with 'buy' ratings and up to 34% upside ahead of Q2 earnings season FY27.

> AI Quick Read IT stocks to buy : Brokerage firm HDFC Securities has recommended IT stocks by assigning ‘buy’ rating with up to 34% upside ahead of the beginning of second quarter earnings season (Q2 results FY27)
## TCS and HCL Tech Target Prices
TCS has a target price of ₹ 2,470 implying 20% upside, while HCL Technologies has a target of ₹ 1,370 indicating 11% upside.

> Tata Consultancy Services (TCS) 2,470 20% HCL Technologies 1,370 11%
## Wipro and Tech Mahindra Targets
Wipro could rise 17% to ₹ 185, while Tech Mahindra has a target of ₹ 1,660 suggesting 9% upside.

> Wipro 185 17% Tech Mahindra 1,660 9%
## Mid-Cap IT Stocks with Upside
Persistent Systems has a target of ₹ 6,070 implying 15% upside, while Mphasis stands out with a target of ₹ 2,840 offering 32% potential upside.

> Persistent Systems 6,070 15% Mphasis 2,840 32%
## Engineering and Smaller IT Companies
L&T Technology Services has a target of ₹ 3,570 implying 11% upside, while Tata Elxsi has a target of ₹ 3,900 offering 26% potential upside.

> L&T Technology Services 3,570 11% Tata Elxsi 3,900 26%
## Q2 Results FY27 Preview
HDFC Securities expects currency movements to impact IT stocks by 10-20 basis points, with dollar revenue growth ranging from 0.5% decline to 1.8% rise QoQ.

> HDFC Securities, in its report, said that the impact of currency movements is expected to be relatively small this quarter, at around 10, 20 basis points (bps) on average
## Q2 Results FY27 Performance
HCLTech and Tech Mahindra are expected to perform best with 2% QoQ growth in constant currency and improved operating margins.

> HCLTech is estimated to report around 2% QoQ growth in constant currency (CC), along with an improvement of about 50 bps in operating margins
## Key takeaway

HDFC Securities recommends TCS, HCL Tech, and Mphasis with 20-34% potential upside ahead of Q2 results FY27.