Stay updated with breaking news from It Sector. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The developments come days after TCS completed its investigation into six staffing firms that were found to have bribed senior recruitment executives to get business
Companies slash growth forecast for FY24 amid macroeconomic headwinds
TCS’ peers such as Infosys and Wipro shares lagged behind with losses of 12.71% and 36.70%, respectively, during the last two years.
Analyst Sandip Sabharwal believes that 2024 might be a tougher year than 2023, contrary to what most analysts are predicting. He warns investors to be cautious about stocks that have seen a decent run-up in anticipation of performance improvement. Sabharwal also expresses skepticism about the IT sector, stating that while some specific companies may do well, larger diversified IT firms are facing significant challenges.
Deal wins were robust across the board but the overall macroeconomic environment remains shaky in the major markets of the US and EU