IT earnings recovery not quite made to order, but seen on track
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ET Intelligence Group: The BSE Infotech index has budged little — a gain of 0.4% — since January 12 when Tata Consultancy Services (TCS), the country’s largest IT company, kicked off the latest result season for the sector. This is despite strong order bookings reported by the top five sector companies, including TCS, Infosys, HCLTech, Wipro and Tech Mahindra (TechM). The index has lost nearly 4% over the past month and around 11% over the past 12 months, reflecting the sombre mood among investors amid delays in project execution, which has slowed the revenue growth. Analysts expect gradual recovery over the next few quarters amid large deal ramp ups and rising collaborations of Indian software exporters with global technology partners that is likely to help them take advantage of the increasing artificial intelligence (AI) related opportunities. ET Bureau For the top five software exporters, the aggregate year-on-year incremental revenue...