IT spend in US likely to remain resilient, large-caps like TCS, Infy & HCL safer bets

Mumbai: Analysts expect IT spending in the US to remain mostly resilient in the near term, but advise that investors need not be in a hurry to lap up shares of Indian technology companies despite the recent decline in prices.

Though Indian IT companies have reported strong revenue growth in the June quarter, with most also maintaining or increasing their guidance, analysts remain cautious about the sector because of the concerns over a slowdown in the US, the biggest market.