Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Equity Analyst with 15+ years of experience as a Buy Side analyst covering companies in the Emerging and Developed markets.
Fundamental and Quantitative analysis on companies in the Internet, Telecommunication, Media, Technology, IT Services, Healthcare, Pharmaceutical and other Industrial sectors.
Idea generation focussed on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Global Emerging Market Equities

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Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Thematic (Sector/Industry)

India It services / Thematic (Sector/Industry)

<ul>
<li>Following 2 years of exceptional performance, share prices have started to correct. The demand outlook remains robust, but revenue and earnings growth rates are decelerating off a high base.</li>
<li>The key catalysts will be the FY2023 outlook and guidance, due April 2022, and the impact of increased shareholder returns.</li>
<li>Based on their recent financial performance, short- to medium-term growth outlook, shareholder return policies, and current valuation levels, the sector remains unattractive.</li>
</ul>


Following 2 years of exceptional performance, share prices have started to correct. The demand outlook remains robust, but revenue and earnings growth rates are decelerating off a high base.
The key catalysts will be the FY2023 outlook and guidance, due April 2022, and the impact of increased shareholder returns.
Based on their recent financial performance, short- to medium-term growth outlook, shareholder return policies, and current valuation levels, the sector remains unattractive.


Indian IT Services: Medium-Term Outlook Unattractive as Growth Slows, on Premium Valuation Levels