IT giant Infosys on Monday said that it may miss the top end of its dollar revenue growth due to the global uncertainties.
Harit Shah, IT Analyst, Nirmal Bang in an interview to CNBC-TV18 said that the overall economy is not in a good shape, in such an environment it would not be conducive to expect more of these firms to comfortably beat their guidance. "I think the management was saying that they will be somewhere in the mid point of their guidance," he said. However, Nirmal Bang still has a negative rating on the stock. "Our target at this point is around Rs 2,380. Currently, we do have a sell rating on the stock." "So, in this environment a lot of non core spends will be cut only major IT spends that run business will hold up. Discretionary spending will come off so we have factored a bit of slow down in FY13 earnings growth for IT firms," he added. Below is the edited transcript of ShahDiscover 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!
