The Indian IT services sector has entered a new fiscal year with its deepest valuation discount in a decade, as the combined shock of geopolitical conflict and artificial intelligence anxiety rattled fourth-quarter earnings. Yet, according to a deep-dive analysis by Sumeet Jain of CLSA and commentary from industry veteran Avinash Vashistha, Chairman and CEO of Tholons and former Chairman of Accenture, the pessimism may have overshot market reality. The Q4 reflects an industry caught between AI ambition and execution reality, opines Phil Fersht, CEO, US-based HFS Research. He also says geopolitics is amplifying caution, but not killing demand. India’s tech bellwether TCS will open the 4th earning quarter with a full-year performance numbers on Thursday (April 9). Published – April 08, 2026 11:34 pm IST Share this: Click to share on WhatsApp (Opens in new window) WhatsApp Click to share on Facebook (Opens in new window) Facebook Click to share on Threads (Opens in new window) Threads Click to share on X (Opens in new window) X Click to share on Telegram (Opens in new window) Telegram Click to share on LinkedIn (Opens in new window) LinkedIn Click to share on Pinterest (Opens in new window) Pinterest Click to email a link to a friend (Opens in new window) Email More Click to print (Opens in new window) Print Click to share on Reddit (Opens in new window) Reddit Click to share on Tumblr (Opens in new window) Tumblr Click to share on Pocket (Opens in new window) Pocket Click to share on Mastodon (Opens in new window) Mastodon Click to share on Nextdoor (Opens in new window) Nextdoor Click to share on Bluesky (Opens in new window) Bluesky Like this:Like Loading... Post navigation IRDAI issues revised information and cyber security guidelines Two men arrested for murder of hotel worker in Peravallur