Accenture's Q1 FY22 results have sent a wave of cheer among analysts, as the company raised its revenue guidance and said it expects double-digit growth in outsourcing, up from single digit to low double-digit growth expected earlier. Accenture's financial year ends on August 31. The company raised its revenue outlook for FY22 to 19-22 per cent in local currency, up from 12-15 per cent earlier.
A slowdown in the global economy and sub-prime crisis in the banking, financial and insurance services sector, its major revenue earners, force the domestic IT industry to take a relook at its hiring strategy.
'Pockets of mid and small-cap indices are showing exuberance and are discounting even FY23 valuations now.'
Mid-sized IT firms have stepped up hiring in the current fiscal year, adding more than half as many employees in the first quarter of FY19 as compared to the whole of the previous financial year. This momentum is likely to continue for the rest of 2018-19 (FY19) as well.
It is advisable to stick to mid-caps with sustainable financial metrics rather than those offering the promise of faster growth.
All credit to the finance minister for walking the fiscal and expectation tightrope extremely well in his budget speech, says Ganesh Natarajan.
Asia has opened largely in the green ahead of a raft of Chinese data due during the day.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Transcript of the Ganesh Natarajan chat on rediff on Friday.
Markets under pressure; IT financials grab spotlight.
BSE Bankex, Healthcare, Capital Goods and Consumer Durables ended higher.
