TCS, Infosys to Wipro: Jefferies sees earnings risk while Nuvama eyes upside for IT stocks
The IT sector stocks would be in focus today after Accenture’s 7% growth and stable demand offered some encouragement and a positive read-through for Indian IT information technology companies. However, one must understand that they have not established that a broad recovery in technology spending is under way.
Though US technology services company beat its revenue guidance and reported strong bookings, the pricing pressure increased and client spending on discretionary projects remained subdued. Several big global banks and brokerage houses differ on what this means for Indian IT.
