{"id":26304,"date":"2023-01-10T12:58:11","date_gmt":"2023-01-10T07:28:11","guid":{"rendered":"https:\/\/flattrade.in\/kosh\/?p=26304"},"modified":"2023-01-10T13:14:48","modified_gmt":"2023-01-10T07:44:48","slug":"indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings","status":"publish","type":"post","link":"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/","title":{"rendered":"Indian IT sector may grow 15% on new client addition and rupee depreciation, says CareEdge Research"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"26304\" class=\"elementor elementor-26304\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6f667a5d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6f667a5d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-524a6737\" data-id=\"524a6737\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4c919469 elementor-widget elementor-widget-text-editor\" data-id=\"4c919469\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Indian IT\/ITeS sector\u2019s revenues are expected to rise between 13% to 15% this fiscal, helped by rupee depreciation and continued new client addition in low-ticket size clients ($1 to $10 million), according to a report by CareEdge Research. This is based on an analysis of the top five IT companies accounting for about 60% of the overall IT\/ITES sector in India. The top five IT companies include TCS, Infosys, Wipro, HCL Technologies and Tech Mahindra. Further, the sector benefited from rupee depreciation with an average USD-INR rate of 78.8 in H1FY23 compared to 73.9 in H1FY22.<\/p>\n<p>According to CareEdge, the IT industry witnessed steady traction in addition of mid-size clients during H1FY23 supported by an increased focus on digitization and cloud adoption. The report said that the increasing digitisation and the rise in demand for emerging technologies like 5G, advanced data analytics, artificial intelligence, cloud computing, cyber-security, robotics and blockchain provide growth opportunities for Indian IT\/ITeS firms.<\/p>\n<p>However, on a sequential basis, client addition has remained largely flat and there has been a slowdown in large-ticket size client addition due to an implied higher base effect on account of a sudden post-pandemic ramp-up in FY22. Also, from a mix perspective, the clientele of $10 million and above contributed more than one-third of all client additions in the $1 million and above bucket for H1FY23 \u2014 similar to trend witnessed in FY22.<\/p>\n<p>The report said that the revenue growth has been broad-based across verticals like BFSI, retail, healthcare, and manufacturing globally. But, the BFSI vertical continues to be the fastest-growing segment and largest revenue contributor accounting for over 30% of the revenues of top five players.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-33748c6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"33748c6\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-18b23055\" data-id=\"18b23055\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7aea37c9 elementor-widget elementor-widget-heading\" data-id=\"7aea37c9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><br>Profitability<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a714f5d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a714f5d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f11a9fc\" data-id=\"f11a9fc\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6d761049 elementor-widget elementor-widget-text-editor\" data-id=\"6d761049\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The report said operating profitability is expected to continue to remain range bound in FY23 amid moderation in revenue growth. The factors like rupee\u2019s depreciation and moderation in attrition would support operating profitability of the top five players in the IT\/ITeS sector. Further, optimisation of employee cost owing to the expectation of tapering attrition and slowdown in hiring may further support operating profitability going forward.<\/p><p>Meanwhile, risks arising from high inflationary and recessionary environment, especially in the US and European markets could potentially weigh on discretionary IT spending by corporates and remain the key monitorable.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2692fbd9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2692fbd9\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-300c1ef4\" data-id=\"300c1ef4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-764b6970 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"764b6970\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/ekyc.flattrade.in\/openaccount\/?utm_source=Blog&#038;utm_medium=organic&#038;utm_campaign=Demat+Account\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Open a Free Demat Account<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"Indian IT\/ITeS sector\u2019s revenues are expected to rise between 13% to 15% this fiscal, helped by rupee depreciation&hellip;","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"footnotes":""},"categories":[65],"tags":[204,46,43,95,78,139,48,26,77,47,251,24,23,84,294,664,311],"class_list":{"0":"post-26304","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-industry","7":"tag-it","8":"tag-market-news","9":"tag-market-update","10":"tag-markets","11":"tag-nifty","12":"tag-nifty-futures","13":"tag-nifty-today","14":"tag-nse","15":"tag-sensex","16":"tag-sensex-today","17":"tag-sgx-nifty-futures","18":"tag-share-market","19":"tag-stock-market","20":"tag-stocks","21":"tag-tcs","22":"tag-tech-mahindra","23":"tag-wipro","24":"cs-entry","25":"cs-video-wrap"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Indian IT sector may grow 15% on new client addition and rupee depreciation, says CareEdge Research - Flattrade Kosh<\/title>\n<meta name=\"description\" content=\"The report said that the IT industry witnessed steady traction in addition of mid-size clients during H1FY23 supported by an increased focus on digitization and cloud adoption\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indian IT sector may grow 15% on new client addition and rupee depreciation, says CareEdge Research - Flattrade Kosh\" \/>\n<meta property=\"og:description\" content=\"The report said that the IT industry witnessed steady traction in addition of mid-size clients during H1FY23 supported by an increased focus on digitization and cloud adoption\" \/>\n<meta property=\"og:url\" content=\"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/\" \/>\n<meta property=\"og:site_name\" content=\"Flattrade Kosh\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-10T07:28:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-10T07:44:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/01\/IT.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"534\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Flattrade\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Flattrade\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/\"},\"author\":{\"name\":\"Flattrade\",\"@id\":\"https:\/\/flattrade.in\/kosh\/#\/schema\/person\/0df49afdcdc9b8cf2e54f80cbc763e04\"},\"headline\":\"Indian IT sector may grow 15% on new client addition and rupee depreciation, says CareEdge Research\",\"datePublished\":\"2023-01-10T07:28:11+00:00\",\"dateModified\":\"2023-01-10T07:44:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/\"},\"wordCount\":390,\"keywords\":[\"IT\",\"Market News\",\"Market Update\",\"Markets\",\"nifty\",\"nifty futures\",\"Nifty Today\",\"NSE\",\"sensex\",\"SENSEX Today\",\"SGX NIFTY FUTURES\",\"Share Market\",\"Stock Market\",\"stocks\",\"TCS\",\"Tech Mahindra\",\"WIPRO\"],\"articleSection\":[\"Industry\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/\",\"url\":\"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/\",\"name\":\"Indian IT sector may grow 15% on new client addition and rupee depreciation, says CareEdge Research - Flattrade Kosh\",\"isPartOf\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/#website\"},\"datePublished\":\"2023-01-10T07:28:11+00:00\",\"dateModified\":\"2023-01-10T07:44:48+00:00\",\"author\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/#\/schema\/person\/0df49afdcdc9b8cf2e54f80cbc763e04\"},\"description\":\"The report said that the IT industry witnessed steady traction in addition of mid-size clients during H1FY23 supported by an increased focus on digitization and cloud adoption\",\"breadcrumb\":{\"@id\":\"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/flattrade.in\/kosh\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Indian IT sector may grow 15% on new client addition and rupee depreciation, says CareEdge Research\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/flattrade.in\/kosh\/#website\",\"url\":\"https:\/\/flattrade.in\/kosh\/\",\"name\":\"Flattrade Kosh\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/flattrade.in\/kosh\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/flattrade.in\/kosh\/#\/schema\/person\/0df49afdcdc9b8cf2e54f80cbc763e04\",\"name\":\"Flattrade\",\"url\":\"https:\/\/flattrade.in\/kosh\/author\/siddharth-aflattrade-in\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Indian IT sector may grow 15% on new client addition and rupee depreciation, says CareEdge Research - Flattrade Kosh","description":"The report said that the IT industry witnessed steady traction in addition of mid-size clients during H1FY23 supported by an increased focus on digitization and cloud adoption","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/","og_locale":"en_US","og_type":"article","og_title":"Indian IT sector may grow 15% on new client addition and rupee depreciation, says CareEdge Research - Flattrade Kosh","og_description":"The report said that the IT industry witnessed steady traction in addition of mid-size clients during H1FY23 supported by an increased focus on digitization and cloud adoption","og_url":"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/","og_site_name":"Flattrade Kosh","article_published_time":"2023-01-10T07:28:11+00:00","article_modified_time":"2023-01-10T07:44:48+00:00","og_image":[{"width":800,"height":534,"url":"https:\/\/flattrade.in\/kosh\/wp-content\/uploads\/2023\/01\/IT.png","type":"image\/png"}],"author":"Flattrade","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Flattrade","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/#article","isPartOf":{"@id":"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/"},"author":{"name":"Flattrade","@id":"https:\/\/flattrade.in\/kosh\/#\/schema\/person\/0df49afdcdc9b8cf2e54f80cbc763e04"},"headline":"Indian IT sector may grow 15% on new client addition and rupee depreciation, says CareEdge Research","datePublished":"2023-01-10T07:28:11+00:00","dateModified":"2023-01-10T07:44:48+00:00","mainEntityOfPage":{"@id":"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/"},"wordCount":390,"keywords":["IT","Market News","Market Update","Markets","nifty","nifty futures","Nifty Today","NSE","sensex","SENSEX Today","SGX NIFTY FUTURES","Share Market","Stock Market","stocks","TCS","Tech Mahindra","WIPRO"],"articleSection":["Industry"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/","url":"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/","name":"Indian IT sector may grow 15% on new client addition and rupee depreciation, says CareEdge Research - Flattrade Kosh","isPartOf":{"@id":"https:\/\/flattrade.in\/kosh\/#website"},"datePublished":"2023-01-10T07:28:11+00:00","dateModified":"2023-01-10T07:44:48+00:00","author":{"@id":"https:\/\/flattrade.in\/kosh\/#\/schema\/person\/0df49afdcdc9b8cf2e54f80cbc763e04"},"description":"The report said that the IT industry witnessed steady traction in addition of mid-size clients during H1FY23 supported by an increased focus on digitization and cloud adoption","breadcrumb":{"@id":"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/flattrade.in\/kosh\/indian-it-sector-to-grow-15-on-new-client-addition-and-rupee-depreciation-says-careedge-ratings\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/flattrade.in\/kosh\/"},{"@type":"ListItem","position":2,"name":"Indian IT sector may grow 15% on new client addition and rupee depreciation, says CareEdge Research"}]},{"@type":"WebSite","@id":"https:\/\/flattrade.in\/kosh\/#website","url":"https:\/\/flattrade.in\/kosh\/","name":"Flattrade Kosh","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/flattrade.in\/kosh\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/flattrade.in\/kosh\/#\/schema\/person\/0df49afdcdc9b8cf2e54f80cbc763e04","name":"Flattrade","url":"https:\/\/flattrade.in\/kosh\/author\/siddharth-aflattrade-in\/"}]}},"_links":{"self":[{"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/posts\/26304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/comments?post=26304"}],"version-history":[{"count":0,"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/posts\/26304\/revisions"}],"wp:attachment":[{"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/media?parent=26304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/categories?post=26304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flattrade.in\/kosh\/wp-json\/wp\/v2\/tags?post=26304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}