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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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IT services firm Zensar Technologies posted a strong set of second quarter numbers, clocking profit of Rs 91.34 crore on revenues of Rs 758.65 crore.
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Brokerages are still bullish on the stock. Most analysts are, however, concerned about its Japan business, insurance platform Diligenta and high hiring guidance.
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TCS CFO Rajesh Gopinathan is confident the IT behemoth will make the transition and says its mammoth size will not be an "inherent disadvantage".
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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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A day after TCS posted a largely muted set of quarterly earnings, CEO N Chandrasekaran said the company was witnessing 'weak spots' in the business and said its constant currency growth could see a "gap of 1.5-2 percent...explained by softness" in certain areas of the business.
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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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According to Rumit Duggar of Religare Capital Markets the dollar revenue growth would be around 9 percent and FY16 EPS would be around Rs 57.5.
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Infosys is "working hard to beat its constant currency guidance", CEO Vishal Sikka told CNBC-TV18.
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The stock fell off the cliff within minutes and touched intraday low of Rs 1108.90 per share, touching as low as 5 percent. News of revising dollar revenue and CFO Rajiv Bansal's resignation led the stock into a tizzy soon after.
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Moshe Katri, IT industry analyst is confident of the company will beat the FY16 dollar revenue guidance of 10-12 percent and match industry growth.
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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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Dollar revenue may rise 3.6 percent quarter-on-quarter to USD 2,337 million and rupee revenue is seen rising 5.9 percent to Rs 15,210 crore in the quarter ended September 2015.
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Infosys is confident of meeting its guidance of 10-12 percent growth for fiscal 2016. Basking in the aftermath of a fantastic quarterly performance, Infosys CEO Vishal Sikka and CFO Rajiv Bansal spoke to CNBC-TV18 to explain the success story.
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Infosys' first quarter dollar revenues in constant currency terms surged 4.4 percent to USD 2.25 billion, ahead of both the previous quarter's number and analyst forecasts.
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Sales are expected to increase by 4.8 percent Q-o-Q (up 10 percent Y-o-Y) to Rs 14051.6 crore, according to Motilal Oswal.
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In an interview with CNBC-TV18, Vibhor Singhal, Analyst at PhillipCapital, outlined his expectations from Infosys earnings, which is slated to declare numbers tomorrow.
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According to a CNBC-TV18 poll, profit after tax is expected to fall 2.5 percent sequentially to Rs 3,017 crore while revenue is seen rising 5 percent to Rs 14,097 crore in the quarter ended June.
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Preferring Infosys over TCS in terms of valuations, Menon says a 3.2 percent dollar growth is expected of Infosys. He says its margins and growth are likely to converge with that of TSC's.
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Negative sentiment may have been already priced in as two other mid-cap companies Persistent and KPIT Technologies have also issued earnings warnings. Persistent had alerted investors that certain client specific issues could result in dollar revenue decline sequentially.
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Investors should focus on the positive guidance laid out by the company, which sounds “achievableâ€, according to Kawaljeet Saluja, executive director and head of research, Kotak Institutional Equities.
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Analysts are mixed on the Vishal Sikka-led company with most brokerages still betting on it but slashed target price and earnings per share (EPS) estimates.
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The country‘s second largest software services, Infosys, is looking to eschew its conservative image and plans to go out and buy a few companies, largely in the digital space, though it is also open to considering acquisitions in the traditional services.
