I.T Stocks Outlook for the week – 21 to 25.09.2015
(Positive on fresh deals, steady US
interest rate)
( www.rupeedesk.in )
Recent
contract wins by major information technology companies unchanged have put the
sector in a favourable position. Investor sentiments also improved on the back
of strong consumer spending data from the US.
The
US dollar fell sharply against the rupee post the Fed's decision. The rupee's
rise is expected to be short-lived over concerns of further slowdown in China
and other markets. The Indian currency ended at 65.67 rupees per dollar and is
seen trading between 65.25-66.00 rupees in the next week.
Broader
market is likely to be volatile next week with a positive bias on defensive
stocks ahead of expiry of the September futures and options contracts on
Thursday. The CNX IT index is expected to cross 12300-point level in the next
few sessions, as market participants are seen responding to the various
triggers in the week.
Recently,
the Delhi government signed an agreement with Wipro Ltd for setting up and
maintaining a control room for emergency response medical services. Infosys Ltd
has also won an order to implement its banking solutions for Australian Qantas
Credit Union.
Infosys
will stick to the 25% (plus or minus 1%) margin guideline for 2015- 16
(Apr-Mar) and is looking at all possible levers for cost optimisation, Chief
Executive Officer Vishal Sikka said at Investors Forum 2015 in Hong Kong.
Tata
Consultancy Services Ltd and HCL Technologies Ltd have both launched new
digital services strengthening their aim to increase revenues from the digital
space.
