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Acceleration of the overall industry’s constant currency revenue growth in Q1FY2019 validates our earlier conviction on better revenue growth for the industry in FY2019E compared to FY2018 with TCS, Infosys, HCL Tech and Tech Mahindra being the preferred picks.
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Stability in senior leadership, well chalked out execution strategy, better demand environment, generous payout and opportunities from a weaker rupee-dollar protects downside for the stock
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Majority of brokerage houses remained positive on the stock, expecting 9-19 percent return over a period of one year on hopes of better margins going ahead.
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Analysts said the result was largely a non-event.
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In the previous quarter, Infosys reported a 28 percent sequential fall in net profit to Rs 3,690 crore, in line with analysts' expectations.
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Net Sales are expected to increase by 6.4 percent Q-o-Q (up 12.6 percent Y-o-Y) to Rs. 19,233.8 crore, according to Edelweiss.
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Net Sales are expected to increase by 5.1 percent Q-o-Q (up 11.2 percent Y-o-Y) to Rs. 18,996 crore, according to HDFC Securities.
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Accenture’s robust Q318 results along-with persisting double digit growth in outsourcing revenues further bolsters confidence, the report further added.
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Global and domestic brokerages remain mixed about the results as some of them have been surprised on lowering of margin guidance. Brokerages such as Jefferies have hiked their target to Rs 1,340 per share from Rs 1,000 per share earlier, an upside of 34 percent.
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Brokerages such as Jefferies have hiked their target to Rs 1,340 per share from Rs 1,000 per share earlier, an upside of 34 percent, citing favourable risk reward. However, Citi has maintained its neutral stance on the stock, reducing its target price to Rs 1,195 per share.
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The street will closely watch the commentary of new CEO Salil Parekh on new strategy, deal momentum, capital allocation policy, progress on onsite hiring and sectoral growth.
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Net Sales are expected to increase by 2 percent Q-o-Q (up 6 percent Y-o-Y) to Rs. 18147.6 crore, according to Edelweiss.
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Net Sales are expected to increase by 1.9 percent Q-o-Q (up 5.9 percent Y-o-Y) to Rs. 18,131.8 crore, according to Motilal Oswal.
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Net Sales are expected to increase by 1.8 percent Q-o-Q (up 5.8 percent Y-o-Y) to Rs. 18,115.2 crore, according to Kotak.
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In an interview to CNBC-TV18, Ravi Menon, Analyst-IT Services at Elara shared his views and readings on Infosys Q3 numbers.
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Moneycontrol takes a look at what multiple brokerages are talking about the result expectations.
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The key things to watch out for would be its full year guidance and management commentary. Overall it is expected to be soft quarter due to seasonality.
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In an interview to CNBC-TV18, Urmil Shah, AVP Research Analyst at IDBI Capital, Sanjeev Hota, AVP Research at Sharekhan, Girish Pai of Nirmal Bang Institutional Equities and Trip Chowdhry of Global Equities Research shared their readings on Infosys Q2 earnings as well as their outlook on how the stock would react in today’s trading session on the back of its quarterly numbers.
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Overall, first quarterly result of Infosys, after Nilekani takes over office is about a refocus on earlier defined strategic and operational priorities.
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A cut in revenue guidance and no significant update on the CEO front could weigh on the software major's stock when it next opens for trading.
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In an interview to CNBC-TV18, Sandip Agarwal of Edelweiss Financial Services gave his take on what Infosys might deliver.
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Analysts expect revenue to increase 3.2 percent sequentially to Rs 17,630 crore and dollar revenue to grow 3.3 percent to USD 2,738 million in the quarter ended September 2017.
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Net Sales are expected to increase by 3.2 percent Q-o-Q (up 1.9 percent Y-o-Y) to Rs. 17630.3 crore, according to Kotak.
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Wipro Q1 FY18 earnings beat expectations but guidance disappointed the street- the board has also approved a Rs 11,000 crore buyback. In an interview to CNBC-TV18, Sandip Agarwal of Edelweiss Financial Services shared his readings and outlook on the same.
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With lack of conviction on sustaining growth, limited margin levers and likely pricing pressure from legacy contracts, CLSA remained unconvinced of differentiation and stayed underperform on the stock.
