Despite muted earnings in the previous quarter and little expectations of major recovery in the next quarter, what is driving the rally in tech stocks? The answer lies in FY25, on which everyone is pinning their hopes, decode Beena Parmar and Romita Majumdar.
India Business News: Experts predict a revival in India's information technology (IT) sector in the next fiscal year, despite lackluster performance from the country's top
The third-quarter performance of Indian IT majors such as TCS, Infosys, HCLTech and Wipro did not inspire much confidence. In Q3, Tata Consultancy Services posted a 4% increase in revenue and a 2% expansion in profit, while Infosys reported a 7.3% drop in profit. Meanwhile, Wipros profit fell 12% and HCLTechs grew 6.2%.
The third-quarter performance of Indian IT majors such as TCS, Infosys, HCLTech and Wipro did not inspire much confidence. In Q3, Tata Consultancy Services posted a 4% increase in revenue and a 2% expansion in profit, while Infosys reported a 7.3% drop in profit. Meanwhile, Wipros profit fell 12% and HCLTechs grew 6.2%.
Happy Monday! Ronnie Screwvala-led Upgrad is closing in on US edtech firm Udacity, with a fresh fundraise likely to seal the deal. Details of this and more in todays ETtech Morning Dispatch.