Deal wins hint at stabilisation for IT sector

Deal wins reported by the country’s top four IT services companies in the December quarter point to early signs of stabilisation in client spending, even as revenue growth remains subdued and recovery uneven across players.

Aggregate deal wins for Tata Consultancy Services, Infosys, HCL Technologies and Wipro stood at a little over $20 billion during the quarter, higher than the September quarter but broadly in line with the year-ago period, indicating that demand has stopped deteriorating but has yet to turn decisively stronger.