Analysts see no sign of slump in Indian IT firms’ Q2 deal numbers

BENGALURU: Indian IT services companies continue to sign large deals with clients, indicating that the sector is not seeing any signs of amacro-economic slowdown in key markets, analysts have said.

Analysts at brokerage firms ICICI Securities and Kotak Institutional Equities see the closure of three major software services contracts reinforcing a positive outlook for the outsourcing markets globally.

The contracts in question include Tech Mahindra’s over $1 billion deal from telecom major AT&T, HCL Technologies’ contract with specialty steelmaker Aperam and TCS winning a deal from General Motors recently.