Shashi Bhusan, IT analyst at Prabhudas Lilladher expects IT major, TCS to post 4% volume growth in the third quarter.
In an interview to CNBC-TV18, Bhusan said, "In dollar terms, we are expecting 2.7% quarter on quarter growth with a margin expansion of around 210 bps. On the bottomline we are expecting 17% quarter on quarter growth in rupee terms." HCL Technologies reported better-than-expected profit growth for the second quarter. Its net profit for the Oct-Dec quarter jumped 43.3% from a year ago to Rs 572.7 crore. Bhushan expects HCL's second half to be better than consensus expectations. "But the key positive which came out of the result is, in a seasonally weak quarter they have signed 57 new clients," he added. Prabhudas Lilladher has a target price of Rs 530 on HCL Tech. Amongst the midcaps IT stocks, MindTree and Polaris are Bhushan's top picks. Below is the edited transcript of BhusanDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
