Can new CEOs at TCS, Tech Mahindra bring a turnaround? 10-year history says no

A study of 13 CEO changes in the past decade shows midsized IT firms usually outperform larger ones on growth and profitability after a leadership change, with turnarounds in IT firms hard to achieve. Analysts say there is a stronger likelihood of mid-sized IT firms, including Mindtree, Birlasoft and Zensar, beating revenue and net profit growth expectations post-leadership change. The Nifty IT index has risen only 7% in the past year amid a slowdown and recession fears. Infosys is the only Indian IT stock with a buy rating from Jefferies, targeting Rs 1,570.