Growth from North America picks up after a relatively subdued performance from US in Dec'13 /Mar'14 quarters lending confidence to double digit growth trajectory for the sector, according to Emkay Global Financial Services.
''Tier I players improvise utilizations and surprise positively on margins (barring Wipro). Tech M and mid Tier peers surprise negatively on margins.''
''Hiring remains subdued even as employee turnover picks up. Growth from Europe remains strong on a YoY basis,'' it said.
''Tier I companies barring Wipro see modest earnings upgrades while we cut earnings estimates for Tier II techs with the exception of Mindtree. We prefer Tier I names and now have no Buy rated stocks in our mid Tier universe,'' it opined.
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