New Delhi, April 16 -- Infosys Ltd started FY25 with a bang. Its order books were overflowing with new deals as it reported its highest quarterly deal wins in the three months through June 2024.

Deal wins followed even in the following quarter and at one point, the Street predicted the country's second-largest information technology (IT) services firm to grow faster than its larger peer, Tata Consultancy Services Ltd, in the 12 months through March 2025. However, seasonality played spoilsport in the third quarter, and the company did not have any mega deals-those above $1 billion in total contract value-to boast about.

The going got tougher as US president Donald Trump imposed tariffs on all imports on 2 April, and announced a 90-day pa...