scorecardresearchGoldman cuts India's Infosys, TCS to ‘sell’ on looming slowdown

Goldman cuts India's Infosys, TCS to ‘sell’ on looming slowdown

Updated: 14 Sep 2022, 01:58 PM IST
TL;DR.
Goldman said it remains more sanguine on the EBIT margin forecasts than on revenue of Indian IT companies, given multiple levers such as higher employee utilisation, controls on variable pay and annual wage hikes.
NEW YORK, NEW YORK - SEPTEMBER 13: The Goldman Sachs logo is seen on at the New York Stock Exchange on September 13, 2022 in New York City. Goldman Sachs announced today a plan to cut several hundred jobs this month, making it the first Wall Street firm to take steps to cut down on expenses amid a drop in volume of deals after pausing layoffs for two years during the coronavirus (COVID-19) pandemic.   Michael M. Santiago/Getty Images/AFP

NEW YORK, NEW YORK - SEPTEMBER 13: The Goldman Sachs logo is seen on at the New York Stock Exchange on September 13, 2022 in New York City. Goldman Sachs announced today a plan to cut several hundred jobs this month, making it the first Wall Street firm to take steps to cut down on expenses amid a drop in volume of deals after pausing layoffs for two years during the coronavirus (COVID-19) pandemic. Michael M. Santiago/Getty Images/AFP