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Tata Consultancy Services (TCS) came out on top in the IT pack yet again, posting a 5.1% sequential jump in revenue for the quarter ended September, against 2.5% growth at Infosys and 3% at HCL.
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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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In an interview to CNBC-TV18 portfolio manager PN Vijay recommended long term inventors to buy FMCG major ITC at its current level, if their second quarter earnings are fairly decent. The recent ban on gutkha in many states is having a spillover effect on regular cigarettes, but Vijay does not see any great problems for ITC.
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Tata Consultancy Services is to announce its second quarter results. According to the CNBC-TV18‘s estimates, the company‘s Q2FY13 USD revenues are seen up 4.2% at USD 2842 million versus USD 2728 million.
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Tata Consultancy Services has outperformed its Indian IT peers, especially number two Infosys, in the past few quarters and the street would expect it to set the pace once again in the second quarter.
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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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Commenting on IT major‘s dismal performance in the June-September quarter, Moshe Katri, MD, Cowen & Co, New York said it was yet another light quarter in terms of revenues, margins and guidance reset.
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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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India's leading software exporters could see a modest uptick in outsourcing business from the United States and Europe despite a warning on Tuesday from the International Monetary Fund that it sees the risk for a serious global slowdown as "alarmingly high."
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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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The second quarter earnings season will kick off with IT major Infosys announcing its results on October 12. Dhananjay Sinha of Emkay Global told CNBC-TV18 that sales growth of IT companies will be muted for Q2.
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If one thought earnings announcements by India's top two software services providers would give a clear direction for the IT industry, then it has been anything but. Infosys and Tata Consultancy Services announced their first quarter earnings on Thursday and it's been a tale of contrasts.
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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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Tata Consultancy Services, India's top software services exporter, reported a 38% rise in its fiscal first-quarter profit, beating market expectations, helped by a weaker rupee and increase in demand for outsourcing.
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Tata Consultancy Services (TCS), the country's largest software exporter, once again came out on top compared to its closest rival Infosys, which disappointed the street with a lower-than-expected quarterly profit and a sharp cut in its full year US dollar revenue guidance.
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After posting strong first quarter number, India's top software services provider Tata Consultancy Services said, unprecedented volatility continues to be a challenge. "The company is taking steps to mitigate risks from currency volatility."
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Comparing the performances of both IT heavyweights, Bhavin Shah, CEO of Equirus Securities said, though the numbers registered by TCS are better than Infosys, it is reflecting a situation where the industry is facing slower growth rates.
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Ankita Somani, telecom analyst at Angel Broking says, TCS' results are than the expectations. "I expect FY13 to be divergent in terms of the growth rates of the Tier-I IT pack. We expect TCS to grow by mid-double digits."
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Harit Shah of Nirmal Bang Institutional Equities explains to CNBC-TV18 that there isn't any further scope for an upside in Infosys. He has advised clients to sell if they can book profits.
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"From bad to worse" is how Kotak Instutional Equities summed up the disappointing results announcement of Infosys.
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According to Moshe Katri, managing director of Cowen & Co, the biggest disappointment in Infosys‘ Q1FY13 numbers was the guidance for revenue growth.
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Country's largest software services exporter Tata Consultancy Services (TCS) will announce its first quarter results tomorrow after market hours. Analysts on average expect the profit after tax to grow by 10.8% quarter-on-quarter to Rs 3,250 crore in the quarter ended June 2012, according to CNBC-TV18 estimates.
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Country's largest software services exporter Tata Consultancy Services (TCS) will announce its first quarter results tomorrow after market hours. Analysts on average expect the profit after tax to grow by 10.8% quarter-on-quarter to Rs 3,250 crore in the quarter ended June 2012, according to CNBC-TV18 estimates.
