Prabhudas Lilladher On Indian IT Services - Technology Spends In Virtuous Cycle
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Prabhudas Lilladher Report
Covid-19 has accelerated the pace of digital adoption forcing companies to invest in technology in order to remain relevant for their customers.
The strong deals won by IT companies in last two quarters in banking, financial services and insurance and retail sector completely align with the strategies of different CXO’s of saving costs and increasing revenues via digital transformation.
Higher spending will likely result in increasing opportunities for IT services companies.
Despite the sector’s recent re-rating to +2-SD, we extend our positive view as we believe technology spends will sustain in coming quarters.
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