IT companies: Manik Taneja on how Tech M will fare? What to expect from IT cos in H2
Axis Capital's Manik Taneja says that tier-1 tech companies have managed to maintain margins well, with some deferring wage implements. However, growth has been modest and below expectations for most companies in the IT sector. Taneja does not expect significant positive surprises in Tech Mahindra's upcoming earnings report and believes that the company's margins may not show a significant uplift. Axis Capital has a negative view on the sector overall, with Tech Mahindra being the only positive-rated stock among tier-1 companies.
Source: indiatimes.com