The lag effect became evident in technology service companies' July-September quarter results, as auto manufacturing growth declined. This overhang is anticipated to persist into the third quarter ending December. While the manufacturing segment remained stable for the top three players, Tech Mahindra, the fifth-largest, reported a 4% decline in its manufacturing vertical due to automotive sector softness. Analysts observe that headwinds led to a 0.3% quarter-on-quarter (QoQ) decline in auto ..
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