bearish

Indian IT Services: Where Are We in the Growth Cycle?

Wium has highlighted this Insight as a Top Pick
240 Views29 Apr 2024 19:12
SUMMARY
  • Fiscal 4Q 2024 results have shown the first signs of a bottoming in y/y constant currency revenue growth rates, leading to expectations for accelerating growth rates over the medium term.
  • We have witnessed a steady long-term negative trend in operating margins for most of the industry.
  • Forward PE ratios are at, or above, long-term historic average trading levels. We find very little upside for these shares whilst maintaining a relative preference for Infosys Ltd (INFO IN).
Begin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to:
  • Unlock research summaries
  • Follow top, independent analysts
  • Receive personalised alerts
  • Access Analytics, Events and more

Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.

Upgrade later to our paid plans for full-access.

or
Already have an account? Sign In Now
Discussions
(Paid Plans Only)
chart-bar
Logo
Rising
Wium Malan, CFA
Global Emerging Market Equities
Propitious Research
Information Technology & Communication ServicesEquity Bottom-UpThematic (Sector/Industry)
x