The July-September quarter has historically been the strongest one for Indian IT services companies. But in this fiscal year, there is unlikely to be any show of strength when companies announce second quarter (Q2) results. “We see risks to double-digit growth guidance at TCS," analysts at Nomura Financial Advisory and Securities (India) Pvt. Revenues from its financial services vertical grew 4%, far lower than the 7.2% company-wide growth. “We believe that IT spending will moderate in financial services in 2019 after a strong year in 2018.

Source: Mint October 10, 2019 01:30 UTC