IT mid-caps stick to steady growth amid uncertain macroeconomic environment

With the Big Four information technology (IT) services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.

Firms such as Persistent Systems (Persistent), Coforge, KPIT Technologies (KPIT), and Cyient performed better on key performance metrics. Their managements sounded a cautious note, with most having guided for double-digit growth at a time when all the Big Four players are likely to clock in single-digit growth on the back of a strong order book.

Take the case of Pune-headquartered Persistent. The services