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IT Stocks Outlook for the week – 06 to 10.03.2017

IT Stocks Outlook for the week – 06 to 10.03.2017


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IT Stocks Outlook for the week – 06 to 10.03.2017
  www.rupeedesk.in )

The shares of most information technology companies, except Infosys and Hexaware Technologies, are likely to continue this week's range-bound movement amid lack of triggers. Possibility of a likely buyback prevents Infosys' stock from any sharp fall in the upcoming week. The company is looking to buy back $2.5 bln worth of shares in April. Infosys' buyback plan will deplete the company's cash reserves and hamper the company's ability to make a big acquisition. It may also impact compensation of some top executives of the company, they added. Wipro is seen underperforming next week. The stock witnessed very low rollovers to the March derivative series. Open interest in Wipro's March contract was the lowest in three years. Following are Thursday's closing share prices of key IT companies, in rupees, on the National Stock Exchange, compared with a week ago, and the change in percentage terms.