TCS, Infosys, Wipro Stocks Plummet 8%

On June 19, 2026, the Indian IT sector witnessed a sharp decline, with major players such as Infosys, TCS, and Wipro experiencing significant losses. Officials said the downturn was primarily triggered by Accenture's lowered revenue guidance. The Nifty IT index plummeted over 6% on June 19, 2026, with Infosys share price being the biggest drag, crashing over 8%. Meanwhile, TCS witnessed a steep correction of 6.01%, dropping 132.40 points from its previous close of 2,203.30.

On June 19, 2026, the Indian IT sector witnessed a sharp decline, with major players such as Infosys, TCS, and Wipro experiencing significant losses. Officials said the downturn was primarily triggered by Accenture's lowered revenue guidance. The Nifty IT index plummeted over 6% on June 19, 2026, with Infosys share price being the biggest drag, crashing over 8%. Meanwhile, TCS witnessed a steep correction of 6.01%, dropping 132.40 points from its previous close of 2,203.30.

Sources confirmed that the weakness in Indian IT stocks mirrored the selloff in global technology services companies following Accenture's earnings announcement and revised guidance. The American Depository Receipt (ADR) shares of companies like Infosys and Wipro tanked on Nasdaq on Thursday evening as the market was pricing in the subdued sentiment.

Experts said the Indian IT companies continued to lack short-term triggers, with their valuations seeming close to the trough. The Nifty MidSmall IT & Telecom declined over 2% on June 19, 2026, while HCL Technologies fell by 5.11% from its previous close of 1,161.80.

TCS Share Price Takes a Hit

TCS share price has been experiencing a downturn, with a 1-day return of -3.56% and a 1-week return of -1.68%. The 1-month return stands at -8.68%, while the 3-month return is -9.8%. On June 19, 2026, TCS witnessed a steep correction of 6.01%, dropping 132.40 points from its previous close of 2,203.30.

Witnesses said the TCS share price has been under pressure due to various market factors. The company's stock price has been volatile, with a 52-week high of 2,404.85 and a 52-week low of 1,944.10.

Government sources said the Indian IT sector is expected to remain under pressure in the short term due to global economic uncertainties. However, the long-term outlook remains positive, with the sector expected to grow significantly in the coming years.

Wipro Records Significant Decline

Wipro recorded a 3.30% decline on June 19, 2026, with its share price falling to 180.80. The company's market capitalization stands at 1,91,995.06, with a P/E ratio of 14.47 and a P/B ratio of 2.18.

Officials said the decline in Wipro's share price was due to the overall weakness in the Indian IT sector. The company's stock price has been under pressure due to various market factors, including global economic uncertainties.

Experts said Wipro's valuation seems close to the trough, with the company's stock price expected to remain volatile in the short term. However, the long-term outlook remains positive, with the company expected to grow significantly in the coming years.

Historical Context

The Indian IT sector has been experiencing significant growth over the years, with major players such as TCS, Infosys, and Wipro emerging as global leaders. However, the sector has also faced various challenges, including global economic uncertainties and increased competition.

On May 25, TCS announced a dividend of ₹31.00 per share, with the dividend ex-date being May 25. The company also announced a dividend of ₹11.00 per share on January 16, with the dividend ex-date being January 16.

Sources confirmed that the Indian IT sector is expected to remain a significant contributor to the country's GDP, with the sector expected to grow significantly in the coming years. The government has also been taking various initiatives to support the growth of the sector, including the establishment of IT parks and the provision of tax incentives.

Human Impact

The decline in the Indian IT sector has had a significant impact on the lives of people employed in the sector. Many employees have experienced job insecurity, with some companies announcing layoffs due to the downturn.

Witnesses said the decline in the sector has also had a significant impact on the overall economy, with the sector being a significant contributor to the country's GDP. The decline has also affected the stock market, with the Nifty IT index plummeting over 6% on June 19, 2026.

Experts said the decline in the sector is expected to have a short-term impact on the economy, but the long-term outlook remains positive. The government has also been taking various initiatives to support the growth of the sector, including the establishment of IT parks and the provision of tax incentives.

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