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Axis Securities Report
The IT services sector is expected to report resilient growth in Q2 FY23 primarily led by the new large deal wins and a ramp-up of deals won in the previous quarter despite likely macroeconomic challenges.
IT spending in North America and Europe has remained robust due to strong demand for digital and cloud transformations.
We believe the said demand momentum is likely to remain intact at least for the quarter and don't foresee any spending being cut in this quarter, at least from the large clients across geographies.
However, vertical commentary for the quarter from major service providers, especially retail vertical, consumer packaged goods, and banking, financial services and insurance, stands critical at this juncture.
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