Indian software services industry: IT outlook is positive, weakness in stock price to be temporary, say analysts
India’s $254 billion software services industry is likely to be undeterred by a recent weakness in stock prices because analysts say this would be a temporary phase with the net impact of the incoming Trump administration likely to be positive for outsourcers like Tata Consultancy Services, Infosys, HCLTech and Wipro.
The IT indices fell more than 2% on both the National Stock Exchange and the BSE last Thursday, dropping the most among sectoral indices. This after high US inflation for October stoked fears of a delay in the pace of interest rate reduction by the US central bank, which could affect decision-making by American companies that account for 50-60% of the Indian outsourcing industry’s clients.
Experts see this as a temporary…
