Posted 1/15/2024, 9:00:32 AM
Indian IT Giants Rally $22 Billion in 2 Days on Upbeat Earnings and Outlook
- Indian software companies like TCS, Infosys, Wipro, and HCL gained $22 billion in market value in 2 days after strong earnings
- Shares rallied on higher than expected sales last quarter and optimistic outlook for the sector
- Investor sentiment boosted by potential for revenue rebound and easing macro worries
- Companies expressing more optimism now, pushing digital transformation and AI initiatives
- Multiple analyst upgrades of earnings estimates based on belief that the worst is over