Live
- Japanese govt approves 250 billion USD economic package to ease prices
- National Cashew Day 2024: History, Fun Facts, Wishes, and Ways to Celebrate
- IPL 2025 Auction: Pant, Rahul, Iyer to push the bar high in Jeddah on opening day
- Priyanka Gandhi consolidates massive lead in Wayanad Lok Sabha bypoll
- India’s seafood, wine industry grows substantially as exports surge: Centre
- National Espresso Day 2024: Celebrate the Beloved Italian Coffee with History, Significance, Recipes, and Fun Ideas
- Bengal bypolls: Early trends show Trinamool victory on all 6 Assembly seats
- EC data: INDIA bloc takes edge in early leads in J'khand; JMM+ leading on 35 seats, NDA on 22
- Mushtaq Ali Trophy: Tilak Varma becomes first cricketer to register third consecutive T20 hundred
- Jharkhand polls: Hemant Soren-led alliance leads on 50 seats, NDA on 29
Consolidation to gather pace among IT firms
Scaling up and the need to build digital capabilities will lead to faster consolidation among the mid-tier information technology companies in India, domestic ratings agency Crisil said on Tuesday.
Mumbai: Scaling up and the need to build digital capabilities will lead to faster consolidation among the mid-tier information technology companies in India, domestic ratings agency Crisil said on Tuesday.
The IT companies' legacy businesses such as time and material contracts have become commoditised, posing significant growth and profitability challenges, it said, spelling out the reasons which will drive this consolidation.
Exit by promoters of tier II firms in the past two years who are capitalising on higher valuations and better growth prospects will also drive this trend, it said.
The agency said it has analysed 22 such mid-tier IT firms with turnover between Rs 1,000 - Rs 10,000 crore and found that there is a consolidation opportunity in Rs 33,000 crore worth of market capitalisation.
