While this one deal will not change the fortunes of the IT sector, it appears (to me) that the number of big deals being signed in recent months by Indian IT companies has increased.
Perhaps this is a slight turn of momentum. Either way given the size of these companies a lot needs to happen before they gain serious momentum.
Earliest signs of that will perhaps be in the FY25 numbers…or perhaps in the last quarter of FY24.
It’s going to be a long haul…which will not be very painful as there will still be big buybacks and big dividends.
Dig in for long, perhaps.
Discl: Interested.
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