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With growth slowdown nearing bottom, will IT stocks top Dalal Street’s bet list in 2024?
Frontline IT companies report mixed Q3 earnings, but analysts anticipate a recovery in the next few quarters as green shoots emerge. TCS sees pent-up demand and growth in banking and financial services, while Infosys has deal ramp-ups on schedule. HCLTech observes green shoots in ER&D and expects strong deal bookings. Wipro notes demand stabilization and slight pick-up in discretionary spending.