Goldman Sachs Picks LTIMindtree as Top Performer Post Q2; Infosys Steady, Wipro Lags

Image Source: Business Today

Goldman Sachs has released its post-Q2 FY26 analysis of India’s top IT firms—Infosys, Wipro, and LTIMindtree. LTIM emerged as the strongest performer with a 13% profit jump, while Infosys showed stable growth. Wipro’s flat performance raised concerns over demand weakness. Sector-wide deal momentum suggests a decent December quarter ahead.

Q2 FY26 Wrap: LTIMindtree Surges Ahead, Infosys Holds Ground, Wipro Faces Headwinds

Following the release of Q2 FY26 results, Goldman Sachs has shared its comparative outlook on three major Indian IT firms—Infosys, Wipro, and LTIMindtree (LTIM). The investment bank noted that while all firms delivered results largely in line with expectations, LTIM stood out for its strong recovery and growth trajectory.

Key Highlights from Goldman Sachs’ Analysis:

LTIMindtree Leads the Pack

LTIM reported a 13% jump in profit, signaling a robust rebound in performance.

Goldman Sachs identified LTIM as showing the fastest recovery among its coverage, citing strong execution and deal wins.

Infosys Delivers Stable Growth

Infosys posted 2.2% sequential revenue growth in constant currency terms, including a 20 bps inorganic contribution.

EBIT grew 8% year-on-year, reflecting solid cost control and operational efficiency.

Goldman expects 1.7% QoQ growth in services revenue for Infosys in the December quarter.

Wipro’s Flat Performance Raises Concerns

Wipro’s Q2 results showed flat revenue growth, with muted commentary on demand outlook.

The firm continues to face challenges in client spending and deal conversion, according to Goldman’s note.

Sector-Wide Trends

Across the six IT firms under Goldman’s coverage, average sequential revenue growth stood at 1.5%.

Deal momentum and management commentary suggest a “decent” December quarter, despite global macro uncertainties.

AI and Transformation Themes

All three companies emphasized AI-led digital transformation as a strategic focus.

LTIM and Infosys are investing heavily in generative AI platforms and cloud-native services.

Investor Sentiment and Stock Outlook

LTIM’s strong results have boosted investor confidence, with analysts viewing it as a high-growth opportunity.

Infosys remains a stable bet, while Wipro may need to revamp its strategy to regain momentum.

Goldman Sachs’ post-Q2 analysis underscores the divergent trajectories of India’s IT giants, with LTIM emerging as the standout performer in a competitive and evolving tech landscape.

Sources: Business Today

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