Demand slowdown to weigh on IT services firms’ Q1 show
Industry analysts and brokerages have forecast revenues of most companies to either stay flat or decline in the first quarter of FY24. In a note to investors on 29 June, ICICI Securities projected Tata Consultancy Services (TCS), the country’s top IT services company, to post a dollar revenue increase of 0.2% in constant currency on a sequential basis. Infosys, the second-largest, is projected to grow 0.8%. While HCL Technologies’ revenue is forecast to remain flat, Wipro and Tech…