TMT Daily "GLOB/CINT: Diverging results from Indian peers reinforce..."

Research evidence excerpt

TMT Daily "GLOB/CINT: Diverging results from Indian peers reinforce..."

Global Research

17 July 2026ab

TMT Daily Equities

Emerging MarketsGLOB/CINT: Diverging results from Indian

peers reinforce uncertainty; TIGO appoints Telecommunications

new leadership at Movistar Colombia Leonardo Olmos,AnalystCFA

leonardo.olmos@ubs.com

+55-11-9658 7533

TMT Calendar: next main events: Gustavo Farias

Associate Analyst

(July 21) AMX earnings release gustavo.farias@ubs.com

(July 23) Televisa and TelevisaUnivision earnings release +55-11-2767 6154

(July 22) AT&T earnings release

(July 27) TEF-BZ earnings release

(July 27) TIM earnings release

(July 29) TEF earnings release

(July 29) Intelbras earnings release

(July 29) Cognizant earnings release

(July 30) Grid Dynamics earnings release

GLOB/CINT: Diverging results from Indian peers reinforce uncertainty

What happened: Yesterday, UBS India IT Services Analyst Aditya Chandrasekar

shared key highlights from Tech Mahindra's and Wipro's Q1FY27 results, with Tech

Mahindra delivering a strong beat while Wipro posting a soft quarter.

Tech Mahindra: strong beat, positive tone on demand. Results came in

ahead of consensus expectations, led by manufacturing on the back of

aerospace momentum, earlier-than-expected execution of a large European

auto program and rising demand for AI in industrial transformation.

Management reiterated its FY27 target of above-average revenue growth and

15% EBIT margins despite ongoing macro uncertainty. The company is

confident of improving growth momentum, supported by the ramp-up of large

deals in communications and healthcare and a strong pipeline across the

board. Margin expansion is expected to come from productivity and utilization

gains and lower SG&A from the consolidation of portfolio companies, partly