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Companies have realised that they are sitting on excess staff with skills that are no longer growth drivers

Rohit Srivastava of Strike Money Analytics & Indiacharts highlights the risk posed by the high positioning in the market. He expects a prolonged corrective phase and warns against being bullish on IT stocks, which still face headwinds. The Rs 50,000-crore positioning that we see is a risk to the market itself.

In a recent note, brokerage house Ambit Capital noted that the March quarter (Q4) outlook doesn’t suggest immediate recovery for IT. It prefers Tier-1 IT over Tier-2 IT.

Karnataka, of all states, must acknowledge the benefits it has reaped from constitutionally-guaranteed freedom of movement and emphasis on meritocracy. The state boasts a thriving IT sector and significant PSUs, especially in defence, and serves as a hub for higher education. These successes have been possible because Karnataka has attracted the best talent from across India and the world, thanks to its cosmopolitan and open approach critical for innovation and growth.

These offshore arms of multinationals are collaborating to leverage the domain expertise, services and technology portfolio of Indian IT companies that has been built over the years, said the company’s head of India business and corporate affairs.