Tag: IT Services Forecaster

Has the ‘Dream Run’ for Indian IT Ended? | In the News

After years of sitting on piles of cash, Indian information technology (IT) services firms are suddenly dispensing some of it to their shareholders by way of buybacks.

The buybacks are a move to boost share price and soothe investor sentiments. They are also designed to make them less attractive to predators. After years of giving high returns, the industry has been delivering below expectations; most Indian IT services firms have been performing below the Sensex, the benchmark stock index.

Projections mirror the growing uncertainly. The U.S.–based Deep Dive/Everest Group IT services forecaster expects a 6.3% growth for the top five IT companies for calendar year 2017. For the industry as a whole (excluding multinational captive centers), the growth in 2017 is projected to be a mere 5.3%.

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IT Sector Growth to Fall to 5.3% in 2017: DeepDive/Everest Group IT Services Forecaster | In the News

US-based DeepDive/Everest Group It Services Forecaster has forecast a 6.3% growth in constant currency for the top five Indian companies for the 2017 calendar year, a 2.4 percentage points drop from the 8.7% growth in 2016.

For the sector as a whole – including large, medium and small IT firms but excluding MNC captive centres – the growth in 2017 is expected to be a mere 5.3%. That’s a steep drop from the 8-10% that the industry is expected to do, as per IT industry body Nasscom, in the 2017-2017 fiscal year (Nasscom estimates include the contribution of MNC captive operations).

Read more at the Times of India

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