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Stocks of information technology companies are seen up next week on better-thanexpected quarterly earnings, companies sounding bullish of growth guidance set by industry body NASSCOM, and fall in rupee against the dollar. Last week, NASSCOM said it expects Indian IT companies' exports to grow 12-14% in 2013-14 (Apr-Mar), against 10.2% in the current financial year, on expectations of higher discretionary spending by clients and improved business environment. Further, stocks are seen rising as the finance minister is expected to keep the direct and indirect tax rates unchanged, bring more and more subsidies under "Direct Cash Transfer" mechanism, clear timelines for implementation of Direct Tax Code, and Goods and Services Tax, in the upcoming Union Budget to be announced Thursday. Also, the fall in Indian rupee against the dollar is seen helping stocks in the coming week. The rupee has fallen 0.9% against the dollar since Jan 1. Yesterday the rupee closed at 54.1800 against Thursday's close of 54.4800.
Stocks of information technology companies are seen up next week on better-thanexpected quarterly earnings, companies sounding bullish of growth guidance set by industry body NASSCOM, and fall in rupee against the dollar. Last week, NASSCOM said it expects Indian IT companies' exports to grow 12-14% in 2013-14 (Apr-Mar), against 10.2% in the current financial year, on expectations of higher discretionary spending by clients and improved business environment. Further, stocks are seen rising as the finance minister is expected to keep the direct and indirect tax rates unchanged, bring more and more subsidies under "Direct Cash Transfer" mechanism, clear timelines for implementation of Direct Tax Code, and Goods and Services Tax, in the upcoming Union Budget to be announced Thursday. Also, the fall in Indian rupee against the dollar is seen helping stocks in the coming week. The rupee has fallen 0.9% against the dollar since Jan 1. Yesterday the rupee closed at 54.1800 against Thursday's close of 54.4800.
