Global 500 Rankings: Indian brands such as Tata, Infosys, LIC, HDFC, RIL, Airtel, HCL Tech, SBI, Mahindra, Wipro, Mahindra Group, Jio, L&T, Indian Oil, Crédit Agricole, and Bajaj make their place in the Brand Finance Global 500 2024 report.
This cautious stance might be due to macroeconomic factors, but signs of a global economic revival, such as the recent strong US growth, could mean better prospects for IT services
According to analysts, early signs show that the weakness has bottomed out. In fact, one of them said IT services business will see a possible rebound soon, irrespective of whether the US cuts interest rates or not.
Nadar Malhotra stated that HCL Group sees Foxconn as a great strategic partner. “A lot a lot of people know them much more for their manufacturing prowess, but a big part of the universe of their manufacturing is the work that they do (is) in semiconductor design.”
One of the basic principles of figuring out whether the stock prices have bottomed out or have topped out is how they react to the negative and positive news. Now let s use the same thing on Infy, TCS and HCL tech Q3 results reaction. The companies which have seen muted growth and given similar guidance did not do something which was very different in Q3 results. No great expansion in margins nor any indication that tech spending is back in a major way. The only difference was the expectation of the street which has been extremely low. That is why the positive reaction was witnessed and that probably the worst of the slowdown has been priced in.