Business Standard

Cautious outlook

Growth in the IT sector will be slow


Business Standard Editorial Comment Mumbai

Listen to This Article

The information technology (IT) industry is making a comeback in terms of popularity. But the Q1FY24 (April-June 2023) financials and the guidance received don’t seem to justify this. Management guidance by industry leaders — Tata Consultancy Services (TCS), Wipro, HCLTech, and Infosys — can be termed mildly, or at best cautiously, optimistic. However, investors have pushed up the IT index by 5 per cent in the past week after absorbing available Q1FY24 results and guidance. This could be classified as a relief rally because worse was expected. Some investors may also be simply over-optimistic, given the general momentum. The panic

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 24 2023 | 9:37 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to