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Axis Securities Report
As businesses continue to rely on technology, both for driving incremental revenue and optimising costs, the demand for Indian IT services would remain buoyant despite an uncertain macro environment.
Migration and digital transformation initiatives will continue to drive significant demand for Indian IT companies. Improved pricing, increased off-shoring, greater fresher addition, lower attrition, and decreased reliance on subcontractor expenses will help companies maintain margins.
Macro concerns have already been factored in the recent correction in the IT services space. We remain positive on account of sustained long-term demand.
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