As the US President stoked expectations of a corporate tax rate cut and the ensuing rise in corporations’ discretionary spending and IT budget, Indian IT majors are expected to see mid-to high-single-digit growth over the coming quarters, indicating a slower-than-expected recovery, according to brokerage firm CLSA. The brokerage adopted a cautiously optimistic outlook due to…
IT services providers appear to be happy with Donald Trump’s victory, barring concerns about the prospect of stricter H1-B visa regulations. They expect that his policies will increase businesses’ discretionary spending. According to analysts, the United States still has a lot of work to do in under-penetrated industries like banking and healthcare. Spending on IT…
While the India IT services sector’s fiscal first quarter profits showed a wide rebound across all verticals and locations, suggesting stronger fiscal growth than the previous year, the industry continued to enjoy robust deal signings in August. “After recovering in the previous months, the 3M rolling sum of deal signings—a strong lead indicator of deal…
At a time when IT services majors like TCS and Infosys are experiencing negative to sub-1.5% quarter-on-quarter (q-o-q) growth, the top five listed IT engineering services companies have risen by 1.1-9.8% q-o-q. During the first quarter of the current fiscal year, the average q-o-q revenue increase for IT services firms was -4.9%. In comparison, revenue…
Infosys exceeded market expectations by reporting a net profit increase of 11.1% year over year for the quarter that ended September 30 at Rs. 6,021 crores. Sequentially, profits increased 12.3% over the previous quarter’s Rs.5,360 crores. The large IT company disclosed a share buyback for Rs.9,300 crore. Operations’ revenue reached Rs.36,538 crores, up 23.4% year…
U.S. tech major Accenture has given a below market estimate revenue guidance of 8–11 percent for FY23 due to reduced IT spending and rising inflation. This is a probable signal that the Indian IT firms may face headwinds and see the revenue growth momentum slowing down. Accenture expects revenue growth of 8 to 11 percent…
A five-year contract between Infosys and Spirit AeroSystems covers the provision of MRO (Maintenance, Repair, and Overhaul) services as well as aerostructure and systems engineering services for the product development of emerging commercial, business jet, and commercial aircraft programs. The two have had a close connection for 16 years, during which time Infosys has offered…
The Sensex was down 90 points at 52,682 and the Nifty was down 23 points at 15,845. The equity benchmark Sensex fell more than 90 points in early trade on Wednesday, signaling global signs ahead of the US Federal Reserve policy decision. The 30-share BSE index traded 90.5 points, or 0.17% lower, at 52,682.55 in…
Indices rise further as positive pharma and metal stocks rise as auto stocks rise to boost overall performance. The BSE Sensex is currently trading at 49,525.29, up 318.82 points, or 0.65%. The Nifty 50 is currently trading at 14,943.95, up 120.80 points or 0.81%. The Nifty Bank was up 0.66% at 33,123.20 and the Mid…
