“Bargaining power of the Buyer” has always remained the concern for all IT service companies in India.
The competitor is always ready to offer services/software at discounted price as compared to your price, which erodes the OPM of IT service companies.
As such there is no Moat in IT services companies hence investing for very long durations like 20+ years could be a challenge.
With positive cash flow and good dividend yield, IT stocks can be used mainly as Dividend stocks for the portfolio. Only exceptions could be emerging companies offering disruptive technologies.
No investment in Infosys as of now.
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