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In an interview to CNBC-TV18 Ankur Rudra, VP-Institutional Equities at Ambit Capital shared his reading and outlook on various stocks across the IT sector.
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Several analysts have raised their full year margin expectations on HCL Technologies, after the software services exporter surprised the street with better-than-expected net profit and margin expansion despite wage hikes in the first quarter.
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HCL Technologies' consolidated net profit rose 78 percent, year-on-year, to Rs 885 crore in July-September quarter. In an interview to CNBC-TV18, the company‘s management — vice chairman and chief executive officer Vineet Nayar and chief financial officer Anil Chanana—speak about the results.
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HCL Technologies first quarter net profit rose 78% year-on-year (4% sequentially) to Rs 885 crore, sending its shares to a 52-week high as the India's fourth largest software services provider yet again topped street expectations.
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HCL Technologies, India's fourth largest software services exporter is expected to report 3-5% sequential growth in volumes, however margins will be under pressure due to wage hikes.
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After yet another quarter of disappointment by Infosys, all eyes will now be on HCL Technologies first quarter (July-September) results on Wednesday.
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In an interview to CNBC-TV18, Ankur Rudra of Ambit Capital shared his outlook and strategies on various IT stocks post Infosys‘ disappointing performance on Friday.
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Emkay Global Financial Services expect a an inline Q2 quarter from our Tier I IT services coverage universe with marginal cross currency gains (20-30 bps QoQ benefit) driving a 2.2-4.1% QoQ US$ revenue growth with Wipro at the lower end (+2.2% QoQ) and TCS (+4.1% QoQ) at the upper end.
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Angel Broking has come with its September ‘12 quarterly earning estimates for IT sector. According to the research firm expects 2QFY2013 to be better than 1QFY2013.
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Dolat Capital has come with its September`12 quarterly earning estimates for IT sector. The research firm expects stocks in their coverage universe to report 3-5% sequential growth in constant currency revenues with some notable exceptions (Infy/Wipro – both consolidating their priorities).
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July-September is normally a seasonally strong quarter for software service providers. However, this time around most companies are likely to report muted growth given tighter budget spends amid continued uncertainties in the global macro-economic environment.
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In an interview to CNBC-TV18 Nischal Maheshwari of Edelweiss Securities speaks about his preffered stocks from the auto and IT sector post June quarter earnings.
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Ashwin Mehta, IT Analyst at Nomura India said HCL Tech remains their top pick with a target price of Rs 630 per share. According to him, client mining has showed positive progression in Q1.
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Speaking to CNBC-TV18, Vice chairman and CEO Vineet Nayar said that though macroeconomic initiators continue to be weak, he remains optimistc remains optimistic on account of vendor churn on account of vendor churn.
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HCL Technologies, India's fourth-largest software services exporter, reported a 29% rise in quarterly net profit, just shy of expectations, after winning more outsourcing orders amid the global economic uncertainty.
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HCL Technologies is to announce its fourth quarter results. According to CNBC-TV18's estimates, the company's Q4FY12 USD revenues are seen up 2.5% at USD 1075 million versus USD 1047.9 million, quarter-on-quarter, QoQ.
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Pratish Krishnan, IT analyst, Antique Broking expects Tata consultancy Services (TCS) to grow at a faster pace than its peer going ahead. However, he expects Infosys' growth to rebound in FY14.
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Due to the weak global demand environment and adverse cross-currency movements, Sandeep Muthangi of IIFL Institutional Equities says IT major Infosys may cut its dollar revenue guidance for the year.
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Indian corporate earnings results for Jan-March 'should be weak', warns Bank of America-Merrill Lynch, adding that it sees potential for a market correction.
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Motilal Oswal has come with its earning estimates on IT sector for June the quarter. Acording to the research firm, currency benefits to reflect in margins at Wipro and HCL Tech.
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Prabhudas Lilladher has come with its earning estimates on IT sector for June quarter. According to the research, Tier 2 IT companies to participate in the growth momentum.
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Dolat Capital has come with its earning estimates on IT sector for June quarter. According to the research firm, growth in the reported Rupee revenues would be strong owing to sharp fall of Rupee versus USD (7% average decline on QoQ basis).
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Angel Broking has come with its earning estimates on IT sector for June quarter. The research firm expects 1QFY2013 to be better than 4QFY2012.
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Emkay Global Financial Services has come with its earning estimates on IT sector for June quarter. The research firm expect a subdued quarter from our Tier I IT services coverage universe with cross currency moves (100-150 bps QoQ adverse impact) driving further weakness in US$ revenue growth.
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It is likely to be a subdued start to the June quarter earnings season as a weak demand environment could keep growth rates of IT companies in check.
