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Kota expects Infosys to raise FY22 revenue growth guidance to 13-15 percent in constant currency terms from 12-14 percent earlier, while Prabhudas Lilladher expects the same to be revised to 14-16 percent.
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Brokerages expect IT stocks to continue trading at premium valuations given the order pipeline and digitalisation. Infosys, Tech Mahindra and HCL Technologies are the top consensuses picks.
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The IT services company is expected to guide for 12-14 percent constant currency revenue growth and 22-24 percent EBIT margin guidance for the full year, say brokerages.
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Net Sales are expected to decrease by 2.6 percent Q-o-Q (up 17.1 percent Y-o-Y) to Rs 5,061.5 crore, according to Prabhudas Lilladher.
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Net Sales are expected to increase by 2.6 percent Q-o-Q (up 14.3 percent Y-o-Y) to Rs. 26,590 crore, according to Motilal Oswal.
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CFO Prateek Aggarwal said that at the back of the COVID-19 pandemic, enterprises across the board are accelerating their technology adoption and this process will take years to be completely digital.
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The deal pipeline is strong across companies led by digital foundation deals, integrated deals from smaller clients, experience transformation and even core transformation deals.
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The Q2FY21, so far, witnessed robust numbers from IT, Pharma, Auto components, select banks, and cement sector companies.
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The stock, from June quarter earnings announcement, rallied 49 percent and traded at record high levels ahead of quarterly earnings on October 14.
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Infosys expects its constant currency revenue growth in the range of 0-2 percent for FY21. Deal wins for the June quarter stood at $1.7 billion against $1.65 billion in the previous quarter.
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Infosys is unlikely to announce full-year guidance due to uncertainty amid rising coronavirus infections and a fear of another round of lockdowns.
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Net Sales are expected to decrease by 0.6 percent Q-o-Q (up 6.1 percent Y-o-Y) to Rs. 23,130.9 crore, according to Motilal Oswal.
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Brokerages say the demand pullback is expected to be severe in the directly impacted segments but BFSI and telecom could be stable in terms of growth for IT companies.
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The company is seeing interest from client in cloud, virtualisation, workforce transformation and cost reduction programs
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At operating level, the earnings before interest and tax and margin could be stable for the quarter due to rupee weakness and lower travel expenses.
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The company went through complete thorough investigation. The finding showed that the allegation was unsubstantial.
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Brokerages expect the company's profit in Q3 to grow in the range of 2-7% compared to previous quarter on better operating income and revenue growth.
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We expect Nifty EPS to grow by 14 percent for FY20 and clock in an EPS figure of Rs 554 for FY20.
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Key things to watch out for would be increase in deal sizes & tenures in digital; demand commentary, specifically BFSI & retail; and commentary on the improving geopolitical scenario.
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Net Sales are expected to increase by 5.3 percent Q-o-Q (up 9.5 percent Y-o-Y) to Rs. 2,707.9 crore, according to Motilal Oswal.
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Net Sales are expected to increase by 2.9 percent Q-o-Q (up 8.8 percent Y-o-Y) to Rs. 23,292.2 crore, according to Motilal Oswal.
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Credit Suisse has an 'underperform' call on Infosys with a target price of Rs 690 due to high valuations and an expectation of a weaker second half of FY20.
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The company has declared an interim dividend of Rs 8 per equity share. The record date for dividend is October 23 and payment date is October 30, 2019.
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Net Sales are expected to increase by 3.9 percent Q-o-Q (up 10 percent Y-o-Y) to Rs. 22,660.4 crore, according to Prabhudas Lilladher.
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Net Sales are expected to increase by 3.5 percent Q-o-Q (up 9.5 percent Y-o-Y) to Rs. 22,568.8 crore, according to Motilal Oswal.
