Financial results for July-September period of IT majors Tata Consultancy Services (TCS) and Infosys are out now. The first question which must be in the mind of investors are whether one should add, sell or hold shares of these companies. Firstly, let's have a look on the second quarter's report card of both of these IT companies. For the quarter ended September 30, 2016, Infosys on Friday registered 4.95 per cent rise in consolidated net profit at Rs 3,606 crore for the quarter ended September 30, 2016 against Rs 3,436 crore in the sequential quarter ended June 30, 2016. TCS also posted 4.26 per cent increase in consolidated bottomline figures at Rs 6586 crore for the quarter under review against Rs 6317 crore in the previous quarter ended June 30, 2016. On the revenue front, Infosys reported a 3.1 per cent sequential growth to touch Rs 17,310 crore which was much above the projections of the brokerages houses. India's second-largest software services exporter cut its fiscal-year revenue growth target for the second time in three months on an uncertain business outlook, sending its shares tumbling more than 5 percent intraday on Friday. On the other hand, TCS reported 0.07 per cent qoq fall in consolidated gross sales figures at Rs 29287 crore for the quarter ended September 2016. [jwplayer goGINkZp] Post Q2 results of Infosys, Nikhil Kamath, co-founder and head of trading, Zerodha said, "Infosys results remained largely in line with expectations with a slight disappointment coming in on the guidance front. The BFSI sector outlook remains robust despite a challenging environment and the company claims to have bagged 6 large deals adding up to over $1.2 billion, we continue to hold a neutral bias over Infosys and would look over how the macroeconomic factors play out over the next year." According to Religare Institutional Research, overall, Infosys clocked a strong Q2 performance \u2013 however, a structural growth slowdown, would make it difficult for the company to offset near-term client-specific challenges. The brokerage house expects quarterly growth in the sector to remain volatile, although earnings expectations are now moderating. "Infosys still has the operating levers to retain margins in the 24-25 per cent range which should cushion earnings. We maintain our September 2017 target price at Rs 1,150, set at 16x fwd P\/E, and reiterate 'BUY'," Religare said in a research note. Infosys slashed its revenue guidance for FY17 to 8-9 percent from 10.5-12 percent earlier in constant currency terms after considering performance of H2FY17 and near-term uncertain business outlook. On the further share price movement of TCS, Ambit Capital said, \u201cThe company, with a resilient portfolio mix, low price positioning and strong client connect, is most insulated from the weak demand environment. The brokerage house maintains FY17-18 earnings estimates and target price of Rs 2,900 for TCS shares with 'Buy' rating. However, brokerage firm Sharekhan maintained \u2018Hold\u2019 rating on TCS shares with a target price of Rs 2,450. On Friday, shares of TCS were trading 0.56 per cent up at Rs 2,341.60 around 10.50 am.