Midcap IT: Hexaware, Polaris set to shine through
Give robust guidance for the year, while client-specific issues continue to hit Sasken & MindTree.
The March quarter results posted by midcap information technology (IT) companies were a mixed bag. While Hexaware Technologies, Polaris Software and Firstsource (FSL) posted good results, Mindtree and Sasken Communications were bogged by client-specific issues.
Going ahead, FSL and Polaris are expected to clock higher revenue growth on the back of robust banking, financial services and insurance (BFSI) demand. Further, Hexaware is best placed to gain from the uptick in discretionary spending, which forms 42 per cent of its revenues. Though Mindtree’s research and development segment continues to be a drag, growth in IT services is healthy. For more visit: business-standard.com
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