External broker reports(aggregated public sources), HDFC Securities

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External broker reports(aggregated public sources)

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<ul><li>Tata Consultancy Services: Tata Consultancy Services (TCS) delivered a soft (in-line) performance in Q1 but recorded strong deal bookings which provide visibility despite challenging macros</li><li>Flat sequential revenue growth was impacted by broad-based weakness across verticals—BFSI, Communication &amp; Media, Technology &amp; Services (46% of revenue declining 1% QoQ)—while the remaining business grew 1.6% QoQ</li><li>Greater scrutiny of projects is leading to the relative weakness in sub-segments of mortgage, capital market and P&amp;C insurance within BFSI and in the Communication &amp; Media vertical</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Consultancy Services: Tata Consultancy Services (TCS) delivered a soft (in-line) performance in Q1 but recorded strong deal bookings which provide visibility despite challenging macrosFlat sequential revenue growth was impacted by broad-based weakness across verticals—BFSI, Communication &amp; Media, Technology &amp; Services (46% of revenue declining 1% QoQ)—while the remaining business grew 1.6% QoQGreater scrutiny of projects is leading to the relative weakness in sub-segments of mortgage, capital market and P&amp;C insurance within BFSI and in the Communication &amp; Media verticalContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily  - Tata Consultancy Services, HCL Technologies

<ul><li>IT sector growth has slipped on account of first-order and second-order implications of the prevalent macros</li><li>The macro challenges are manifesting into a set of outcomes for the sector ranging from cuts in discretionary spending, delay in decision making (slower conversion from pipeline to TCV), slower deal ramp-up, to change in the propensity for price increases/volume discounts</li><li>While the resilience/opportunity in the sector is the medium-term recoil (high-single digit CC growth in FY25E following mid-single digit in FY24E), in this note we focus on the ‘near-term demand’ markers and assess the growth dispersion despite the aggregate slowdown</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

IT sector growth has slipped on account of first-order and second-order implications of the prevalent macrosThe macro challenges are manifesting into a set of outcomes for the sector ranging from cuts in discretionary spending, delay in decision making (slower conversion from pipeline to TCV), slower deal ramp-up, to change in the propensity for price increases/volume discountsWhile the resilience/opportunity in the sector is the medium-term recoil (high-single digit CC growth in FY25E following mid-single digit in FY24E), in this note we focus on the ‘near-term demand’ markers and assess the growth dispersion despite the aggregate slowdownContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>HCL Technologies: HCL Tech (HCLT) reported Q4 performance that was in line on revenue, margin and guidance</li><li>Sequential growth in services was offset by a decline in ERS and software revenue (seasonality)</li><li>HCLT’s revenue guide implies 1.5% to 2.2% CQGR in FY24E</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HCL Technologies: HCL Tech (HCLT) reported Q4 performance that was in line on revenue, margin and guidanceSequential growth in services was offset by a decline in ERS and software revenue (seasonality)HCLT’s revenue guide implies 1.5% to 2.2% CQGR in FY24EContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily - HCL Technologies, ICICI Prudential Life, Cyient

<ul><li>IT sector is expected to post a soft Q4 on increased macro uncertainty</li><li>We expect tier-1 IT to post growth in the range of -2% to +1% QoQ and mid-tier IT to post growth in the range of -1.4% to 2.6% QoQ CC organic</li><li>Deal flow is expected to be strongly supported by increased cost optimisation deals and vendor consolidation by enterprise clients</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

IT sector is expected to post a soft Q4 on increased macro uncertaintyWe expect tier-1 IT to post growth in the range of -2% to +1% QoQ and mid-tier IT to post growth in the range of -1.4% to 2.6% QoQ CC organicDeal flow is expected to be strongly supported by increased cost optimisation deals and vendor consolidation by enterprise clientsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

IT (Q4FY23E Results Preview): Soft quarter; outlook holds the key

IT (Q4FY23E Results Preview) - Soft Quarter; Outlook Holds the Key

India

HCLTech is a global technology services and consulting company that provides a comprehensive range of software and infrastructure solutions. The company offers IT and business services, engineering and R&D services, and HCLSoftware products, focusing on digital, cloud, AI, and engineering solutions to help enterprises transform their businesses. HCLTech is headquartered in Noida, Uttar Pradesh, India, and was spun out in 1991.

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HCLTech (HCLT IN)

HSIE Results Daily - Tata Consultancy Services, HCL Technologies

Tata Consultancy Services (TCS) delivered a soft (in-line) performance in Q1 but recorded strong deal bookings which provide visibility despite...

HDFC Securities

IT sector: Mixed signals; stay selective

The macro challenges are manifesting into a set of outcomes for the sector ranging from cuts in discretionary spending, delay in decision making

HDFC Securities

HSIE Results Daily - HCL Technologies, ICICI Prudential Life, Cyient

HCL Technologies: HCL Tech (HCLT) reported Q4 performance that was in line on revenue, margin and guidance. Sequential growth in services was...

HDFC Securities

IT (Q4FY23E Results Preview): Soft quarter; outlook holds the key

We expect tier-1 IT to post growth in the range of -2% to +1% QoQ and mid-tier IT to post growth in the range of -1.4% to 2.6% QoQ CC organic

HDFC Securities

IT (Q4FY23E Results Preview) - Soft Quarter; Outlook Holds the Key

We expect tier-1 IT to post growth in the range of -2% to +1% QoQ and mid-tier IT to post growth in the range of -1.4% to 2.6% QoQ CC organic

HDFC Securities

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