Citi sees more pain for TCS, Wipro, HCLTech; Recommends ‘Buy’ on just 2 IT stocks
Indian IT services companies could face subdued growth for another year as demand remains uneven and the impact of AI-driven pricing pressure becomes a bigger part of the sector debate, according to Citi Research. The brokerage expects only modest sequential growth for the leading companies in the September quarter and says there are still few signs of a broad-based recovery.
According to the Citi Research analyst, the sector is heading towards a fourth consecutive subdued growth year, with demand weakness persisting despite the seasonally stronger second quarter.
