Our recent meetings with Infosys & Wipro and channel checks suggest a mixed picture with rising risks in BFSI but continued overall deal momentum for select companies. Benefit of recent INR-USD depreciation will be offset to some extent by cross ccy headwinds. We expect continued divergent growth across companies with Infosys best placed in the near term. Amidst our positive stance towards IT services as a relative defensive, TCS & TechM are our other Buys.
Infosys best placed near-term, on both growth & margin
We maintain near-term visibility is best for Infosys amongst top-tier companies given its strong deal win ...
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