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Going forward, in one or two quarters Wipro will catch with its peers Infosys and TCS, said Prakash Diwan of Altamount Capital Management.
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Sanjiv Bhasin of IIFL and Dolat Capital's Karan Taurani believe that the company's Q2 performance was good and it can outperform peers like TCS and Infosys in the coming quarters.
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Overall, Infosys Q2 was better than its rival. IT solutions provider Infosys ' profit beat analysts' expectations, rising 4.9 percent to Rs 3,606 crore in July-September quarter but reduced full year revenue guidance considerably due to uncertain external environment.
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Reacting to the results, Nilesh Shah of Envision Capital said that the risk with lowering FY17 guidance is that analysts will now not be able to forecast FY18 figures with a fair degree of certainty.
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Deutsche Bank maintains buy rating on the stock with a revised target price of Rs 2900 stating that project delays hurt revenue growth but margin beat a big positive. Given macroeconomic headwinds, it assumes a conservative stance and now expects TCS to deliver 7.1 percent YoY USD revenue growth with EPS of Rs 135.6.
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Weakness in sterling and softness in macros were the main headwinds for TCS. However, N Chandrasekaran, CEO & MD of TCS expects the latter to go away post November.
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Information technology major TCS reported disappointing revenue numbers in the second quarter but analysts tracking the stock are not much surprised considering the entire industry is facing multiple challenges structurally.
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Sandip Agarwal of Edelweiss Financial Services said they haven‘t changed their hold rating on TCS and does not see a significant downside.
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In an interview with CNBC-TV18, market expert Anand Tandon and Mayuresh Joshi of Angel Broking listed their views on the second quarter earnings result of IndusInd Bank and outlined expectations for TCS's upcoming result.
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Net Sales are expected to increase by 1.1 percent Q-o-Q (up 9 percent Y-o-Y) to Rs 29614.3 crore, according to Kotak Securities.
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According to analysts polled by CNBC-TV18, TCS Q2 constant currency growth is seen at 2.5-2.6 percent versus 3.1 percent (QOQ), despite the fact that September quarter traditionally benefits from seasonal factors including higher working days and start of projects.
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Net Sales are expected to increase by 1.7 percent Q-o-Q (up 9.7 percent Y-o-Y) to Rs 29791.3 crore, according to Motilal Oswal.
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Speaking to CNBC-TV18, Ravi Menon of Elara Capital outlined his investment picks from the sector.
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A number of large companies have posted results since the earnings season started Thursday last week.
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With Infosys reporting first quarter results a day after sector leader TCS, a comparision between the two can now be made.
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Though Q1 is a seasonally strong quarter, volume growth of 3.4 percent (QoQ) was the lowest growth in eight years while Q1 revenue growth was weakest in last five years. TCS has retained margin guidance of 26-28 percent, but Q1FY17 margin of 25.1 percent was the lowest since Q1FY10.
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Sandip Agarwal, Edelweiss Financial Services thinks the constant currency growth of 3.1 percent will put pressure on TCS's Q2 and it will be hard for them to grow at 10 percent organically for the fiscal.
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Speaking to CNBC-TV18 post announcing quarter 1 numbers for TCS, its MD and CEO N Chandrasekaran said that he was overall satisfied with the results. "Combination of factors aiding the results has been good. Attrition is down, he said, adding that it has been a well-rounded performance.
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Karan Taurani, Senior Analyst, Dolat Capital told CNBC-TV18 that TCS‘ revenue numbers are tad above expectations. “The margins are a positive surprise because given this quarter there was a salary hike and the visa cost impact."
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Sales are expected to increase by 3.5 percent Q-o-Q (up 14.7 percent Y-o-Y) to Rs 29432.7 crore, according to Motilal Oswal
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Margin is likely to be impacted by wage hikes. The company had announced a wage hike of 8 percent for India and 2-6 percent for offshore employees.
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Sales are expected to increase by 3 percent Q-o-Q (up 14.2 percent Y-o-Y) to Rs 29311.1 crore, according to ICICIdirect.
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In an interview with CNBC-TV18, Pankaj Pandey of ICICI Direct talked about the brokerage's expectations from the first quarter earnings season and outlined his view on various sectors.
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Moshe Katri, MD of CRT Sterne Agee, believes Infosys has so far done an incredible job in reclaiming the lost market share and it must articulate on ways of transition of its legacy business into digital.
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All three IT companies posted robust numbers, some were ahead of others when it comes to revenue, EBIT and profit growth.
