IT Industry to grow at 8-9% in FY2018; Nasscom: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research- IT, Angel Broking):

"Nasscom issued guidance and trends of the IT sector for FY2018. A) It said that the IT sector is at an interesting inflection point. Most notably, the body said that the IT sector will hire 1.3lakh to 1.5lakh people this year, as the industry is focusing on re-skilling, new talent addition. B) In terms of revenue generation, the body said the industry had added US$11bn revenue in the fiscal year 2017 with 8.6 % growth in CC (constant currency terms). NASSCOM and is expecting IT industry's services exports to grow 7-8% in the financial year 2017-18. It added that the domestic IT services revenue is being expected at 10-11%. C) Digital a bigger of new sunrise for IT industry. It has been a big driver for IT industry. The guidance is broadly in line with the outlook given by the Industry players and hence holds no big surprise. We maintain our buy on Infosys, Tech Mahindra & HCL Tech."

Source : Equity Bulls

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