In an exclusive interview with CNBC-TV18, Bhavin Shah of JP Morgan said that the IT sector results show signs of slowing growth for the sector in the next financial year. He added that growth for these companies has slowed down from the US and most of them are starting to talk cautiously even thought they are optimistic.CNBC-TV18’s exclusive interview with Bhavin Shah:
Q: What is your take on the results that have come out so far especially Satyam?
A: There are couple of key trends that we have noticed that indeed, the growth from the US has slowed for some companies. Depending on which company one is talking about, they are starting to talk cautiously even though optimistic and having not really seen any signs, but talk cautiously about the outlook from US.
In certain segments things are still pretty strong, especially in the engineering segment. Companies that are primarily exposed to that such as Infotech Enterprises have strong numbers to talk about.
Satyam’s results were also pretty good. I guess they have smaller size compared to some of the big companies, that probably allows them to continue to grow at a slightly higher rate. But overall, the results do indicate signs of slowing growth in the next financial year.
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