Page 11 - It Sector News Today

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.

The IT company’s CEO and MD says he is bullish on the medium to long-term growth of the sector even as the industry continues to reel from a slowdown

TCS in its Q3 FY24 results stated that its headcount has reduced for the second consecutive quarter by 5,680 employees in the October to December 2023 period.

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

New Delhi, Jan 15 (PTI) The exports of computer software and services, including IT enabled services and BPO, logged 12.2 per cent growth during 2022-23 to touch USD 193 billion, according to estimates by Electronics and Computer Software Export Promotion Council (ESC).

So against this overall backdrop, now operating margin leverages will kick in as the top line grows. I think this story will repeat itself across the IT pack. And the valuations are okay, earnings growth will start accelerating.

Last week, Indian markets witnessed modest gains with Sensex and Nifty hitting new record closing highs in the last trading session led by a sharp rally in IT stocks.          

During its Investor Day in December, the company’s management said it was seeing higher-than-expected furloughs, with BFSI and hi-tech being the problem areas

Tata Digital India Fund was launched on December 28, 2015. The size of the fund is ₹9,272 crore. In the past one year, the fund has delivered a return of 31.90 percent while the three-year CAGR return is 20.89 percent.

HCLTech’s attrition for Q3 stood at 12.8 percent compared to 14.2 percent reported last quarter. This is the lowest attrition for the company since Covid quarter in 2021