IT Stocks Outlook for the week – 02 to 06.01.2017
IT Stocks Outlook for the week – 02 to 06.01.2017
( www.rupeedesk.in )
The shares of information technology companies are seen rising as market participants choose to invest in stocks that are insulated from demonetization. Prime Minister Narendra Modi is scheduled to give a speech on Saturday. In his speech, Modi is expected to detail the roadmap to deal with the impact of cash curbs as well as announce some relief measures. The broader market is likely to trade on a cautious note next week. The Indian currency, which closed at 67.92 rupees to a dollar yesterday, is likely to remain steady majority of next week. However, investors will continue to hold a cautious view on the sector ahead of Oct-Dec earnings and US president-elect Donald Trump's announcement of policies. Trump, who will take office on Jan 20, is expected to set the tone for his governance during his inaugural speech. Information technology companies' earnings for the December quarter would be crucial as it would determine if they would be able to achieve double-digit growth for the financial year that ends March. Infosys will kick off the earnings season for the sector on Jan 13. Shares of information technology giant Infosys and HCL Technologies are expected to benefit the most from this uptrend. On the other hand, Tata Consultancy Services and Wipro will see the least gains. We expect trend in midcap companies to remain positive and have also recommended certain midcap companies such as Mindtree, Ramco Systems and Hexaware Technologies.
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IT Stocks Outlook for the week – 02 to 06.01.2017
( www.rupeedesk.in )
The shares of information technology companies are seen rising as market participants choose to invest in stocks that are insulated from demonetization. Prime Minister Narendra Modi is scheduled to give a speech on Saturday. In his speech, Modi is expected to detail the roadmap to deal with the impact of cash curbs as well as announce some relief measures. The broader market is likely to trade on a cautious note next week. The Indian currency, which closed at 67.92 rupees to a dollar yesterday, is likely to remain steady majority of next week. However, investors will continue to hold a cautious view on the sector ahead of Oct-Dec earnings and US president-elect Donald Trump's announcement of policies. Trump, who will take office on Jan 20, is expected to set the tone for his governance during his inaugural speech. Information technology companies' earnings for the December quarter would be crucial as it would determine if they would be able to achieve double-digit growth for the financial year that ends March. Infosys will kick off the earnings season for the sector on Jan 13. Shares of information technology giant Infosys and HCL Technologies are expected to benefit the most from this uptrend. On the other hand, Tata Consultancy Services and Wipro will see the least gains. We expect trend in midcap companies to remain positive and have also recommended certain midcap companies such as Mindtree, Ramco Systems and Hexaware Technologies.
