By Ankur Punj, MD & Business Head at Equirus Wealth
The market is effectively pricing in slower revenue growth, lower pricing power, uncertainty around AI’s impact on staffing and weaker margins over the next 12–24 months. Rather than fearing a collapse in earnings, investors are assigning lower valuation multiples to the sector. Outlook Management commentary is likely to remain cautious. Deal wins may improve, but conversion into revenue could stay slow. Earnings downgrades remain a risk.
