TCS, HCLTech Shares Dip Ahead of Q3 Results: Brokerages Eye Muted Growth

• TCS and HCLTech shares traded marginally lower on January 12 before their Q3 results.
• Analysts expect TCS to report 4.2% YoY revenue growth, slower than last year's 5.6%.
• Indian IT firms anticipate a muted quarter due to tepid US demand and holiday shutdowns.
• HCLTech's consolidated revenue is projected at Rs 33,046 crore, with no FY26 forecast upgrade expected.
• Indian IT industry faces macro headwinds like US tariffs, visa fees, and subdued client spending.

Why It Matters: TCS and HCLTech shares dipped as brokerages predicted a subdued Q3 for Indian IT due to macro headwinds.