Infosys, Wipro, HCL Tech, Hexaware, LTIM: Q3 IT preview, stock price targets
Emkay Global in its December quarter preview note said seasonal factors are expected to weigh on growth for its IT services coverage in the December quarter (Q3), resulting in moderate sequential revenue growth, even as year-on-year (YoY) growth momentum is likely to improve.
The domestic brokerage attributed the expected YoY improvement to continued strength in BFSI, a stable demand environment, fewer project deferrals, steady deal momentum and improving revenue conversion. Furloughs in Q3 were seen to be in line with historical trends.
Emkay Global said overall demand conditions remained largely unchanged, with discretionary spending still restrained and clients maintaining a cautious stance amid macroeconomic uncertainty. Ongoing…
