Experts are seeing signs of weakness for IT sector, know what will be the effect of TCS-Infosys results?
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IT Sector News: The performance of the IT sector in the fourth quarter is likely to remain poor as the results of two giants of the information technology (IT) sector fell short of the stock market estimates. Experts are showing the possibility of maintaining this trend for a quarter or two and only after that the situation will improve. Caution dominated the management commentary that came with the quarterly results of the country’s leading IT companies TCS and Infosys. Especially in the US market, both companies are adopting a cautious approach regarding BFSI and technology services.
Know what will be the effect of TCS-Infosys results?
Industry veteran and former director of Infosys TV Mohandas Pai says that the fourth quarter of FY 2022-23 will be slow for IT companies, but its impact and extent will depend on the profile and strategy of individual companies. Expressing the possibility of less uncertainty in the US market in the April-June quarter, Pai said that it will take 1-2 quarters for new orders to come, so the time of October-November is expected to be better. However, he added that the Indian IT industry is a force to be reckoned with in the global tech arena in terms of its size, scale and strength, which will reflect market realities. The IT industry today is a force to be reckoned with with $200 billion in exports and the top five Indian IT companies play a major role in the global market.
Income of big IT companies can come back on track!
At the same time, Pramod Bhasin, founder of Genpact, said that the softening of earnings of large IT companies may come back on track after continuing for a few quarters. The softening of earnings of large IT firms is likely to continue for a few quarters as several industries, especially technology, have been restructuring and cutting costs quite dramatically, he added. Here, IT expert and chairman of 5F World Forum Ganesh Natarajan said that the biggest customers of Indian IT have been BFSI (banking, financial services and insurance), but due to the slowdown in this segment, the growth may be low for the next 3-4 quarters. Is.
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