Reported 6 months ago
Mid-tier IT firms in India's tech sector have gained market share from larger industry players like Tata Consultancy Services and Infosys by focusing on short-term cost-cutting deals for clients amidst economic uncertainties and slowing demand in key markets like North America and Europe. Companies like LTI, Mindtree, Coforge, Mphasis, and Persistent Systems are being seen as challengers in winning Fortune 500 accounts, with analysts predicting that they could outperform larger rivals once discretionary spending improves. Despite the top five IT firms in India still owning a significant market share, the stock prices of mid-tier firms like Mphasis and Persistent Systems have shown strong gains compared to the broader Nifty IT Index.
Source: YAHOO