Q4FY23 was a huge surprise. What are clients saying and do you see this pain continuing?
We are not negative on the macro. We shared only what happened in the quarter and what caught us by surprise, and it turned out to be much sharper. We were expecting it to be up so that's what we called out.
From a macro point of view, we're positive on the UK, Europe is incrementally positive, and the US has turned out to be surprising and hence difficult to call out for the short term. But we believe that the US companies, especially our clients, are in very good shape.
We are not overly negative about the US because the underlying strength is solid. Uncertainty is building up due to the change in the monetary policy stance and its ripple effects. But then we are not economists. We looked at it more from a fundamental basis and felt there should be caution going into the end of the year and it should bounce back at the beginning of the year. That has not happened.
Increasingly there is a mismatch between the TCV (total contract value) one signs and its into growth. Can transmission you explain?
This story is from the April 17, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the April 17, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
A SWEET DEAL
Bioplastics emerge as another revenue stream for sugar firms, a green one at that. Can the industry balance all the demands?
Maha election results fire up PSU stocks
Analysts believe NDA's landslide victory in the state will bring zing back to the markets that have seen some correction recently
Adopt online banking, reduce branch visits to minimise vulnerability
At the recently held State Bank of India Economist Conclave, Finance Minister Nirmala Sitharaman highlighted that while bancassurance has improved insurance penetration, it has also led to mis-selling.
Zomato shares zoom on Sensex inclusion
Shares of Zomato rallied as much as 7.6 percent on Monday, buoyed by the stock's entry into the benchmark Sensex.
RIL shares rise on Citi's 'buy' call
US brokerage has raised scrip target price to ₹1,530, an upside of over 18%
Godrej Properties to gain from strong land portfolio, demand outlook
Expansion of its development portfolio, brokerage upgrades, and strong outlook have led to a 15 percent gain for the stock of real estate major Godrej Properties (GPL) in six trading sessions.
Rupee appreciates 0.2% to 84.29 against dollar
The rupee appreciated by 0.2 per cent against the US dollar on Monday, tracking gains in its Asian peers.
Edelweiss Financial explores minority stake sale in MF unit
May value the business at $700-$800 million
Sensex reclaims 80,000 mark
Maha poll results, MSCI buying underscore gains
Politics, culture and performance
\"All the world's a stage, and all the men and women merely players.\" If we start looking at ourselves as characters who perform, and observe where the stage is, a lot more can start to make sense.