Another quarter of weak growth for IT companies ...Middle East

New Delhi: Q2 proved to be another quarter of anaemic top line growth for IT services companies, JM Financial Institutional Securities said in a note. Underlying trends were broadly similar to 1Q. North America remains the epicentre of weakness. There are early signs of softness spilling over to continental Europe (Germany, France) as well. BFS and Telecom are most stressed while Manufacturing is holding up. Volume growth is under pressure. This is reflected in headcount decline even on a TTM basis — a first. Deal wins — of efficiency types — were strong. But slower ramps and pressure on core volumes are negating impact on top line, at least in the near term, the report said. Most players h

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