IT Stocks Outlook for the week – 11 to 15.04.2016
(In
range; Infosys Jan-Mar earnings to set trend)
( www.rupeedesk.in )
Shares
of information technology companies are expected to trade in a range next week
as
market participants may avoid taking any major bets on the sector ahead of
earnings.
The
Indian currency, which closed at 66.4700 rupees today, is expected to strengthen
further
against the US dollar in the upcoming weeks. This is seen marginally affecting
the
sentiment for the information technology sector, a majority of whose business
is
accounted
for in the US.
Next
week, the focus will be on Infosys Ltd as it would kickstart the earnings for
the IT
sector.
Market participants will wait for Infosys revenue growth guidance for 2016-17
(Apr-Mar)
which is expected to set the trend for the sector. The Bengaluru based company
will detail its Jan-Mar earnings on Friday and is likely to report a 2% sequential
rise in consolidated net profit to 35.5 bln rupees and a 4% sequential rise in net
sales to 165.8 bln rupees.
Shares
of HCL Technologies, which gained in the past week on Geometric stake buy deal,
are seen maintaining the positive momentum and are expected to touch a one month
high
of 848.9 rupees per share in upcoming weeks.