IT Stocks Outlook for the week – 29.02.2016 to 04.03.2016
(Stock-specific
movement likely, focus on Budget)
( www.rupeedesk.in )
Shares
of information technology companies are seen in a range, largely
with
a positive bias, and stock-specific movement is expected next week.
On
Monday, Finance Minister Arun Jaitley will detail the Union Budget
for
2016-17 (Apr-Mar).
Industry
body NASSCOM has recommended simplification and
rationalisation
of tax policies for IT companies as well as emerging startups,
extension
of the sunset clause for the special economic zone scheme,
and
ease of doing business, among others.
In
the following sessions, sector leaders Infosys and HCL Technologies
are
expected to trade with a positive bias. During the week, Infosys
extended
Chief Executive Officer and Managing Director Vishal Sikka's
tenure
until March 2021. This was welcomed by the market as a positive
move
for the company. At a recent conference, Sikka said that
automation
and virtual reality will be key contributors to the company's
growth.
