Large project orders have risen to 15% of the 2023 order book from 7-8% in 2022, raising concerns due to their lower gross margins and extended execution times compared to short-cycle product orders
This continued upbeat show of the companies in the broader market has played a significant role in driving stocks higher and turning many of them into multibaggers.
The IT sector’s wage bill growth fell to 3% in Q3 FY24 from 22% in the same quarter last year.Sectors like FMCG, metals, power, cement, pharma, chemicals also
Going ahead, profitability in core businesses, adoption rate of new products, and the conversion of investments into order inflows for newer products are key monitorables