I.T Stocks Outlook for the week – 09 to 13.01.2017
I.T Stocks Outlook for the week – 09 to 13.01.2017
( www.rupeedesk.in )
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
I.T Stocks Outlook for the week – 09 to 13.01.2017
( www.rupeedesk.in )
In the upcoming week, the focus in the information technology space will remain on Oct-Dec earnings of Infosys
and Tata Consultancy Services. Stocks of information technology companies are expected to trade with a
negative bias initially next week due to uncertainties around US work visa norms. Today, shares of information
technology companies ended down 2-4% on reports a bill seeking stringent visa norms was reintroduced in US
Congress.
However, stocks are likely to recover in the latter half as investors will take positions in futures and options segment
ahead of Oct-Dec earnings. Sector heavy-weight Tata Consultancy Services will detail its earnings on Thursday,
while Infosys will detail its earnings on Friday. The earnings of these two majors are expected to set the trend for
investment in the sector for the remaining month. Poor performance may drag the sector stocks by 2-4%.
Midcap companies 8K Miles Software Services and Cyient will also detail their earnings next week. These
companies are likely to post better earnings as they are likely to be insulated from macro-economic challenges due to
their smaller size.
