IT business environment better than a year ago, no AI impact on hiring before FY26: Rahul Jain

economictimes.indiatimes.com:

Rahul Jain, Vice President, Dolat Capital, says would prefer to look at the earning commentary that Indian IT companies would provide over the next couple of weeks as they deliver their Q2 results and that would make a better sense rather than reading too much into Accenture commentary. From a purely business point of view, things are definitely better than what it was 12 months ago.
Accenture in many ways is tracked very closely in India to try and get a sense of where the IT sector is headed. What do these earnings tell you about the overall sector?
Rahul Jain: The guidance itself is a very wide number and when you get this kind of a guidance, you always feel like at the lower end it is a bad number, at top and it is a respectful number. These kinds of numbers are always very difficult to take a clear bet on. The wide band with such a lower number will make you think that the company itself is very indecisive about it. So, it does not add to any comfort or discomfort as such. We would rather look at the earning commentary that an Indian IT company would provide over the next couple of weeks as they deliver their Q2 results and that would make a better sense to us, I guess, rather than reading too much into this one.

One of the biggest highlights of the earnings snapshot is about generative AI that is seeing bookings of $1 billion for the quarter. In fact, these are strong from what was projected or last year was that figure stood at $900 million. Analysts were expecting this to be at $1.2 billion as far as AI is