I.T Stocks Outlook for the week – 18 to 22.04.2016
( www.rupeedesk.in )
Stocks
of information technology companies are seen trading in a range next week, the
following
steady Jan-Mar performance reported by Infosys. Infosys stock may open weak as
its Jan-Mar earnings, detailed today, did not have any surprises.
All
eyes will now be on Tata Consultancy Services and Wipro, which will detail
their quarterly earnings on Monday and Wednesday, respectively.
Infosys
reported 3.8% sequential rise in Jan-Mar consolidated net profit at 35.97 bln
rupees,
and 4.1% rise in consolidated net sales at 165.5 bln rupees, in line with expectations.
The company guided for dollar sales growth of 11.8-13.8% in 2016-17
(Apr-
Mar), in line with market expectations of above 10-12% growth forecast by industry
body NASSCOM.
After
Infosys' steady performance for the March quarter, that of TCS and Wipro is expected
to set the trend for the sector. Among mid-cap companies, Mindtree, Cyient and
Persistent Systems will detail their Jan-Mar earnings next week.
