I’d take a longer term view of the sector than focusing on 1-2 years. There is no industry in the world that doesn’t face a rut periodically and IT sector is no exception.
Reason IT sector is struggling is simply because of deferral in project execution from their end customers. This has been primary a result of high interest rates in their markets and slowdown in tech spending in verticals like telecom, banking etc.
It’s the same issue with MNCs like Accenture who have been reporting flat growth for last several quarters.
So when the sector gets back into upcycle we’ll see IT companies doing well again.
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