Infosys results keenly eyed amid wage hikes, global worries
The first quarter earnings season will gain momentum with technology bellwether Infosys announcing its first quarter (April-June) numbers on Tuesday. The results, which come amidst economic uncertainties in Europe and margin pressures back home, will set the tone for the overall IT sector performance this quarter.
July 11, 2011 / 10:57 IST
Nachiket Kelkar
Moneycontrol.com
The first quarter earnings season will gain momentum with technology bellwether Infosys announcing its first quarter (April-June) numbers on Tuesday. The results, which come amidst economic uncertainties in Europe and margin pressures back home, will set the tone for the overall IT sector performance this quarter.
Infosys had disappointed the street in the fourth quarter with earnings and rupee guidance for the current fiscal well below what analysts had expected. Also, the unexpected resignation of TV Mohandas Pai, HR head and a long-serving member of the company, sparked speculation of a rift in the senior leadership team.The stock has been under pressure since then, shedding 8%, compared with a 6% decline in the CNX IT Index. The market therefore will be keenly glued to the developments over at the Bangalore-based company, especially after better than expected results by overseas rivals Accenture and Oracle.During the quarter ICICI
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