NEW DELHI, Jan. 3 -- Top Indian software services companies are expected to have a tough year in FY21 amid continued weakness in demand from the banking, financial services and insurance (BFSI) and retail verticals.
"With continued challenges in the capital markets segment and large banks in US/Europe, and heightened volatility in the retail vertical, we clearly expect revenue growth to decelerate in FY21 to about 7.5% in constant currency terms for our large cap coverage," ICICI Securities said in a 15 December note. The BFSI sector has been relatively weak for the past few quarters. Tata Consultancy Services' (TCS') BFSI vertical witnessed slow single digit growth at 8% year-on-year for the quarter ended September.
For Infosys, BFSI rev...