IT sector aims for $15 billion export boost
Caretaker minister unveils roadmap, initiatives to drive innovation and economic growth
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Caretaker minister unveils roadmap, initiatives to drive innovation and economic growth
Axis believes that the said recovery will begin at the start of the new year and FY25 will show strong revenue growth. The brokerage has picked Coforge, Persistent Systems, and KPIT Technologies as its top IT sector picks post the December quarter (Q3FY24) results.
IT Sector: As per a Nasscom survey, sentiments are expected to improve in the second half of FY25, with over two-thirds of the tech CEOs expecting better revenue growth in the next fiscal year.
Sumit Agrawal, Fund Manager at Bandhan AMC, discusses the changes in exposure in various sectors. They have reduced exposure to large private sector banks and moderated exposure in the IT sector. They continue to be overweight in the auto sector, especially two wheelers and two wheelers related OEMs. They are also overweight in the pharma sector, particularly domestic pharma.
Meta announced several rounds of layoffs as part of Mark Zuckerberg's "year of efficiency" in which thousands of employees lost their jobs in the past few months.