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In constant currency terms, growth may stand at 2.5-3 percent in Q2. Margins may skid 100 basis points (bps) due to staggered wage hike and currency headwind.
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Net Sales are expected to increase by 1.9 percent Q-o-Q (up 14.4 percent Y-o-Y) to Rs 11548.2 crore, according to Kotak Securities.
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Net Sales are expected to increase by 1.8 percent Q-o-Q (up 14.3 percent Y-o-Y) to Rs 11539.3 crore, according to Motilal Oswal
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Speaking to CNBC-TV18, Ravi Menon of Elara Capital outlined his investment picks from the sector.
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Anant Gupta, the company‘s CEO, speaking to CNBC-TV18, said that organic growth in the first quarter was higher on back of strong foundation in different sectors.
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Karan Taurani, Senior Analyst, Dolat Capital says, the stock has been their top pick in the sector and will remain so and will revise their earnings guidance upwards.
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Dollar revenue may jump 5.75 percent to USD 1,678.5 million during the quarter compared with USD 1,587.2 million in preceding period, supported by external business of Volvo that acquired in February.
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Sales are expected to increase by 4.5 percent Q-o-Q (up 14.4 percent Y-o-Y) to Rs 11184.5 crore, according to Motilal Oswal.
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Strong orderbook and focus on tapping opportunities will help growth momentum for HCL, says the management.
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HCL Tech on Thursday posted below-estimate third quarter numbers with a 0.3 increase in net profit to Rs 1,926 crore. The company‘s revenue rose 3.4 percent to Rs 10,698 in rupee terms on a sequential basis.
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During the period, EBITDA is seen Rs 2248 crore (20.8 percent) versus Rs 2072 crore (20 percent) quarter-on-quarter.
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In the largecap tech stocks, Urmil Shah, Research Analyst, Institutional Equities, IDBI Capital, prefers Infosys and HCL Tech and believes the former can reach valuations of 20 times by next year. Shah has a target price of Rs 1,381 on Infosys and believes it has higher upside compared to TCS.
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Speaking to CNBC-TV18, Gautam Chhaochharia said that he expects an earnings growth of around 10 percent for the fiscal year 2017 and sees a strong fourth quarter for the pharma sector on a year-on-year basis.
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HCL Tech has recorded broad-based growth, is the word coming in from Anant Gupta, CEO of HCL Technologies; while Anil Chanana, the CFO says he continues to maintain EBIT margin band of 21-22 percent
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Sandip Agarwal of Edelweiss Financial Services has a hold on TCS and buy on Infosys, HCL Tech.
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Nomura feels overall USD revenue growth is likely decelerate to 8.5 percent Y-o-Y posting ninth straight quarter of deceleration from a peak of 15.4 percent Y-oY. Cross currency moves will again likely hit USD revenues by 30-60 bps across tier 1 IT companies.
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In terms of pecking order, Infosys remains the top pick followed by HCL Technologies, says Menon.Ravi Menon of Elara.
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The dismal quarter posted by HCL Technologies also saw its operating margins come off to a low of 19.4 percent.
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The company in September had given profit warning for revenue growth and had said revenue will be tepid due to adverse currency impact, client specific issues and due to transition timeliness for engagement mostly in infrastructure services.
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Dollar revenue is seen rising 0.9 percent sequentially to USD 1551.5 million from USD 1537.5 million, according to average of estimates of analysts polled by CNBC-TV18.
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For Kawaljeet Saluja of Research at Kotak Institutional Equities, Infosys remains a top pick backed by accelerated growth. However, TCS still remains an add.
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Ravi Menon, Analyst-IT Services, Elara Capital expects TCS to deliver 4.2 percent as constant currency growth and 3.9 percent in dollar terms in Q2.
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In an interview to CNBC-TV18, Nischal Maheshwari, Co-Head, Institutional Equities & Head-Research at Edelweiss Securities shared his readings and outlook on the upcoming earning season.
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IIFL analyst Sandeep Muthangi advises investors to add Infosys to their portfolios.
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Anant Gupta, President and CEO, HCL Tech says digitalization in infrastructure, modern application and engineering services is going to aid HCL‘s growth.
