KPIT Technologies, an Indian IT firm, reported that its first-quarter revenue for fiscal year 2027 would fall short of earlier forecasts, dropping about one percent in dollar terms compared to the same period last year. The company attributed the decline to a sudden revenue drop in recent weeks, caused by what it described as unexpected moves by several European original equipment manufacturers, who themselves had recently issued profit warnings and face a grim business landscape. This announcement added pressure to Indian technology stocks, contributing to a third consecutive day of losses for the country’s major benchmarks on the monthly options expiry date. The warning highlights how troubles among European auto and industrial firms can ripple through the global IT services sector.