IT has been the lone warrior for the bulls off late. Could things for the sector gets better from hereon. In an interview to CNBC-TV18, CP Gurnani, MD & CEO of Tech Mahindra, Farid Kazani, MD of Majesco and Apurva Prasad, Research Analyst-IT at HDFC Securities spoke at length about the sector.
Speaking to CNBC-TV18, Farid Kazani, MD of Majesco said that one client-specific issue had an impact on Q2 numbers.
"The joint IBM and Majesco offering is going to provide a secured global incubator for insurance companies to rapidly develop and launch cognitive products and services on the cloud for its clients", Farid Kazani, MD of Majesco told CNBC-Tv18.
Speaking from sidelines of the Emkay Confluence, Farid Kazani, MD of Majesco said the second quarter is likely to be softer as full impact of slowing projects will be felt.
Majesco‘s board has approved the company‘s plan to raise Rs 250 crore via Qualified Institutional Placement (QIP) route.
Majesco today said it had posted a loss of Rs 0.6 crore (from profit of Rs 1.5 crore quarter-on-quarter) in the September quarter on revenues of Rs 188.8 crore (up 22.3 percent QoQ).