The company lowered its full-year revenue guidance, which at its earlier level would have made it the largest IT company in the world in terms of revenue growth leaving the likes of Cognizant behind. The euphoria that seized the largecap IT counters by the end of Q4 of FY2016 is all but gone. "We are not very positive about the long term prospects of the IT space because they are going through an inflection point. NEW DELHI: Once sweet darlings of Dalal Street , the Big Boys of IT are going through tough times. They will not continue to get those 20-25 PEs that they used to get earlier," said Deepak Shenoy, Founder, Capital Mind.The June quarter has been a forgettable one for the Big Three- Infosys TCS and Wipro "We are seeing market reaction.

Source: Economic Times July 21, 2016 04:22 UTC