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Growth is expected to be muted as customers remain cautious on discretionary technology projects, though recent results from Accenture Plc offered some encouragement that spending is shifting toward large AI-led transformation projects instead of simply drying up, according to Antique Stock Broking analysts. On Thursday, TCS beat profit growth expectations, although sequential revenue growth was only 0.5% in constant-currency terms. Read more: Global Market Today: Asian stocks drop on tech jitters, oil edges lower “The IT sector has sharply underperformed the markets in the last nine months primarily due to a negative narrative built by GenAI platform companies compounded by the Gulf war-related uncertainty,” Nuvama said. “We continue to believe the IT services model is here to stay and the GenAI disruption would only lead to bigger opportunities for them.” The Trump administration’s latest visa restrictions mounts a new challenge for the sector, after the US said it would suspend an immigration program used by tech firms, mentioning HCL and TCS by name. Read more: BoE to put barn owls, bees on future notes The NSE Nifty IT Index has dropped 27% this year, leaving the sector trading at its lowest valuation multiple since the pandemic. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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