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Sumeet Jain

Research Analyst at CLSA

Sumeet Jain is an Investment Analyst at CLSA, specializing in equity research primarily focused on the Indian IT sector, with additional coverage in technology-related industries. He covers companies such as Infosys, Tech Mahindra, and Persistent Systems, and has achieved a 55.56% success rate across 10 stocks with a 2.99-star analyst rating on TipRanks. With over 15 years of experience, Jain began his career after graduating from Delhi College of Engineering, later earning an MBA from IIM Lucknow and completing further finance studies at SDA Bocconi, before joining CLSA in Mumbai. He holds advanced finance credentials including Level 2 CFA and has been recognized for his insights on sector performance and Gen AI trends.

Sumeet Jain's questions to Infosys (INFY) leadership

Sumeet Jain's questions to Infosys (INFY) leadership • Q2 2026

Question

Sumeet Jain from CLSA inquired about the overall impact of AI on the IT services industry's revenue growth profile, specifically whether its deflationary effects outweigh volume growth opportunities and the balance between compression and scope expansion in AI-driven deals. He also asked if client IT service budgets are expanding due to AI and if an improved macro environment next year (without tariff uncertainty) would lead to higher industry growth, independent of AI.

Answer

CEO Salil Parekh identified AI's dual impact: growth opportunities (sales, marketing) and productivity/efficiency (cost reduction), with current focus on cost reduction due to the economic environment. He noted it's difficult to ascertain if IT budgets are expanding solely due to AI, as clients are currently focused on cost control. Mr. Parekh stated that historically, an improved macro environment leads to tech improvement, but he did not provide a specific outlook for next year's growth.

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Sumeet Jain's questions to WIPRO (WIT) leadership

Sumeet Jain's questions to WIPRO (WIT) leadership • Q2 2025

Question

Sumeet Jain asked about the growth expectations for the BFSI vertical embedded in the Q3 guidance, given its strong momentum but high exposure to furloughs. He also questioned the strategy for the struggling Manufacturing and E&U verticals, the pace of revenue conversion from large deals, and the reason for the consistent decline in the number of active customers.

Answer

CFO Aparna Iyer confirmed that BFSI's strong momentum is tempered by higher furlough impacts, especially from Capco, which is factored into the guidance. CEO Srinivas Pallia defended the strategy to revive the Manufacturing and E&U verticals, calling them important long-term sectors. Aparna Iyer stated that deal conversion to revenue is not a concern, and the decline in active clients is a result of a weaker discretionary environment and a past decision to exit tail accounts, noting that top clients are growing well.

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