BENGALURU : Top Indian software services companies are expected to have a tough year in FY21 amid continued weakness in demand from the banking, financial services and insurance (BFSI) and retail verticals. Tata Consultancy Services’ (TCS’) BFSI vertical witnessed slow single digit growth at 8% year-on-year for the quarter ended September. For Infosys, BFSI revenue grew slightly higher at 10.3% year-on-year in constant currency terms, which is “pretty decent", according to an equity analyst. However, he said that “one should also consider that this includes the impact of the Stater acquisition, which obviously boosts growth." “The financial services vertical continued its growth momentum aided by the recent Stater acquisition," U.B.

Source: Mint December 29, 2019 16:52 UTC