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Recommendation: Buy; Target price: Rs 5,350
Recommendation: Buy; Target price: Rs 5,350
Indian IT sector underperformed broader markets by 25% in 2022. This is because normalizing IT demand, heightened supply-side pressures and rising yields — weighed on valuations, even as EPS downgrades were limited to single digits.
ACN reiterated FY23 revenue growth guidance to 8-11% YoY CC (inorganic contribution of ~2.5%), led by double-digit growth in managed services.
ACN reiterated FY23 revenue growth guidance to 8-11% YoY CC (inorganic contribution of ~2.5%), led by double-digit growth in managed services.
ACN reiterated FY23 revenue growth guidance to 8-11% YoY CC (inorganic contribution of ~2.5%), led by double-digit growth in managed services.
ACN reiterated FY23 revenue growth guidance to 8-11% YoY CC (inorganic contribution of ~2.5%), led by double-digit growth in managed services.
ACN reiterated FY23 revenue growth guidance to 8-11% YoY CC (inorganic contribution of ~2.5%), led by double-digit growth in managed services.
The stock has dropped more than 9% in the last 4 days
In their latest research note, analysts at IIFL Securities look at the state of supply pressures for Indian IT and the effect on companies’ cost structures.
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.