Doom story on IT layoffs has a hopeful subtext

While Indian newspapers scream about IT layoffs and social media amplifies the doom, Morgan Stanley just upgraded TCS to ‘overweight.’ Goldman Sachs maintains its ‘buy’ rating on Infosys. Smart money is flowing into the very companies supposedly in crisis.

Either the world’s sharpest financial minds have lost their edge, or something else is happening here. Gaurav Dua, Chief Investment Officer at Standard Chartered Securities is among those convinced the noise is a distraction. Why he believes that way becomes clearer when you look at the numbers.