Stock Market LIVE Updates: Sensex, Nifty off day’s lows; VIX up 3%; Infy, Wipro, TCS gain – CNBCTV18

December 17, 2021 by No Comments

Positive IT trend to continue: Gurmeet Chadha

Gurmeet Chadha, Co-Founder and CEO of Complete Circle Consultants, believes that from a fundamental perspective, most corporates, large, medium or even small, are embarking upon this tech upgrade. “It is led and anchored by Cloud, and then there is growth coming from other digital services, including data analytics, Internet of Things, SaaS and other platforms. I think this trend is here to stay,” he said. 

“If you see the recent reports, the tech budget as a percentage of revenue has gone up from three percent to five percent and more than five percent for few large corporates. We interact with a lot of NCR-based promoters and the kind of tech spending we are seeing is unprecedented. So this is a more long-term theme. I will not say multi-year, but at least in the medium term, spending will be strong, which will add a few basis points to the overall industry growth. Within that also, if you see the market is differentiating, it’s not that the old tech stocks have gone up. Even in Tier I stocks, there is a visible difference between Infosys and TCS… Even in the midcap segment, the market is differentiating,” he said. 

Chadha believes that in FY22, one should be clear on which company is leading industry growth, upping guidance both on revenue and margins fronts, and handling supply-side constraints well.



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