IT sector recovery hopes pushed back to FY26; Kotak Equities
Mon, May 6, 2024 1:03 PM

IT sector recovery hopes pushed back to FY26; Kotak Equities

A Flip by Avya Verma
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The Indian IT service companies reported subdued earnings for the fourth quarter of FY24 with muted revenue growth. While the outlook for weak demand and macro uncertainty has been extended, analysts believe the recovery hopes have been pushed back to FY2026. However, the recent corrections in the IT stocks have made valuations more palatable and further correction can make some mid-tier IT stock.

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