Indian IT companies will likely beat the predictions of continued weakness and see strong earnings growth in 2024 on AI spending boost, Omniscience Capital CEO and Chief Investment Strategist Vikas Gupta has said.
India and US tech companies are expected to have a 15 percent earnings growth during the year, Gupta said in an interview to Moneycontrol.
A majority of analysts expect weakness to continue for the Indian IT sector, which has been hit hard as companies in the US and Europe, their biggest markets, cut spendings.