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Cognizants performance reflects the overall IT sectors sentiment with domestic majors as Tata Consultancy Services, Infosys, and Wipro also reported low single-digit revenue growth. All companies have the majority of their clients based in the US and Europe. ....
Sandip Sabharwal expresses concerns about the IT sector due to unclear growth trends and excessively bullish management on margins. In auto stocks, Maruti s resurgence cycle looks promising, while ICICI Bank stands out among private banking majors. Skipping the IT sector is advised, with cautious optimism towards Apollo Hospitals and turnaround banks. ....
IT Sector: In the past two weeks of the final quarter and full fiscal 2024 earnings announcements, most IT majors failed to meet their revenue growth guidance. Many downward revisions for the year ahead were seen despite most firms bagging large deals and sitting on an arsenal of historic total contract value (TCV) wins. ....
Gartner s DD Mishra anticipates AI-led growth in 2024-25, with CIOs relying on consulting services amid uncertainties. Crisis drives IT spending, while niche areas like midcap IT, ER&D, and automotive industry are expected to outperform. Mishra says: "We will see disruptions in the short term, but the long term outlook is positive." ....
As the original sunrise sector of post-liberalization India, the IT industry has been the crowning jewel of the domestic economy for decades. A job in the IT sector has been, often literally, the passport to a better life for millions of young graduates. Is this paradigm changing? ....