Persistent Systems, Happiest Minds- Jewels To Rely On Amid Volatile Macro: ICICI Securities Initiates Coverage

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.Amid adverse macro environment for IT services spending with right shifting of demand, as clients want to focus on critical areas of tech spending, we highlight two stocks in Indian IT Services space - Persistent Systems Ltd. and Happiest Minds Technologies Ltd.- that are well positioned to deliver industry-leading growth in FY24E and beyond with expectations of mid-high teens organic revenue growth. Secular shift to smaller-sized deals to enable digital transformation of enterprises has created a level-playing field for both large and mid-tier IT vendors. Despite broader macro concern that discretionary digital spend is getting postponed, we would like to highlight that both Persistent Systems and Happiest Minds are involved in building digital solutions for clients around software-as-a-system, cloud, artificial intelligence, internet of things and cyber security which are mission critical to either generate revenues for clients or conduct their daily operations. Hence, a significant portion of their revenues is being generated outside annual technology budgets, which is seeing certain pressure..Click on the attachment to read the full report:.IT Services Stocks - Attractive Payout Yield To Buffer Near-Term Macro Pain: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Persistent Systems, Happiest Minds- Jewels To Rely On Amid Volatile Macro: ICICI Securities Initiates Coverage

Well positioned to deliver industry-leading growth in FY24E and beyond.

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