Infosys vs Wipro: A 57 vs 46 Alpha Score Gap That Matters

The Economic Times this week ran a scatter of market items – IPO calendar notes for the Kusumgar mainboard offering, a silver-pricing explainer, and an editorial on why NSE's valuation matters more than its IPO size. For anyone scanning Indian tech stocks, the signal that lands with the most weight sits in the AlphaScala data: Infosys carries a score of 57/100, labeled Moderate, while Wipro and HDFC Bank both land at 46/100, labeled Mixed.

That gap between Infosys and Wipro is the detail a sector readthrough should start from. Both are Indian IT services companies riding the same macro current – U.S. client budgets, AI spend reallocation, visa policy noise. A 57 versus 46 implies that Infosys is getting something right on positioning, earnings momentum, or balance-sheet discipline that Wipro is not. The AlphaScala score is a composite, not a price forecast. The spread is big enough to matter inside a portfolio that holds both.

HDFC Bank's 46 puts it in the same numerical zone as Wipro. That is a different sector entirely – financials, not tech – yet the identical score says the model sees similar risk-to-reward pinching. The bank has been digesting the HDFC Ltd merger for quarters. Loan growth, margin compression, and deposit competition are the usual knobs. A Mixed label at 46 says the math on those knobs is not yet breaking decisively one way or the other.

The trickiest question is whether the three scores tell a story about Indian equities as a whole, or only about the specific picks. The answer tilts toward the specific. Infosys at Moderate is not a scream of conviction – 57 is up from dead neutral but well short of the 70s that signal strong setups. It means the data sees a cleaner path for Infosys than for Wipro without arguing that tech is about to rip higher.

What would confirm or break the divergence between Infosys and Wipro? Watch the next quarterly commentary on deal wins and client discretionary spending. Infosys has historically held better pricing power in large outsourcing deals. If that edge shrinks – if clients push harder for discounts or shorter contract terms – the score gap narrows. If it holds, Infosys stays the preferred name in the sector mix.

For HDFC Bank, the score improvement trigger is simpler: loan growth relative to system growth, and NIM stabilization. A score move from 46 to the low 50s would signal that the post-merger integration is truly behind the story. Until that number shifts, the Mixed label is the right one.

The silver explainer and the NSE IPO valuation editorial are useful reads for a different kind of market day. For anyone managing exposure to Indian stocks right now, the three score snapshots – Infosys at 57, Wipro at 46, HDFC Bank at 46 – are the practical data point. The gap is the trade.