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Stocks of major information technology companies are seen up over the next few trading sessions as the sentiment is upbeat after the top two companies -- Infosys Ltd and Tata Consultancy Services Ltd -- reported better than expected Apr-Jun results. After Infosys' strong show last week, sector bellwether TCS beat Street estimates by posting a 5.5% quarter-on-quarter rise in consolidated net profit in Apr-Jun on the back of highest volume growth in the past seven quarter and a strong performance of overseas business. For the first quarter of 2013-14 (Apr-Mar), the Tata Group company reported consolidated net profit of 37.96 bln rupees and consolidated net sales of 179.87 bln rupees, up 9.5% sequentially.
Even mid-tier software services provider MindTree reported a 71.5% quarter-on-quarter rise in net profit in Apr-Jun at 1.35 bln rupees. Its income from operations in Apr-Jun stood at 6.48 bln rupees, up around 6% on quarter. Hexaware Technologies too beat market estimate when it reported a 23.5% quarter on quarter rise in Apr-Jun consolidated net profit at 979.0 mln rupees, on improved margins. The Indian software exporter's consolidated revenue stood at 5.36 bln rupees, up 5.7% from a quarter earlier. We are now await the results of the remaining two IT majors, Wipro and HCL Technologies, whose results will be announced over the next two weeks.
Stocks of major information technology companies are seen up over the next few trading sessions as the sentiment is upbeat after the top two companies -- Infosys Ltd and Tata Consultancy Services Ltd -- reported better than expected Apr-Jun results. After Infosys' strong show last week, sector bellwether TCS beat Street estimates by posting a 5.5% quarter-on-quarter rise in consolidated net profit in Apr-Jun on the back of highest volume growth in the past seven quarter and a strong performance of overseas business. For the first quarter of 2013-14 (Apr-Mar), the Tata Group company reported consolidated net profit of 37.96 bln rupees and consolidated net sales of 179.87 bln rupees, up 9.5% sequentially.
Even mid-tier software services provider MindTree reported a 71.5% quarter-on-quarter rise in net profit in Apr-Jun at 1.35 bln rupees. Its income from operations in Apr-Jun stood at 6.48 bln rupees, up around 6% on quarter. Hexaware Technologies too beat market estimate when it reported a 23.5% quarter on quarter rise in Apr-Jun consolidated net profit at 979.0 mln rupees, on improved margins. The Indian software exporter's consolidated revenue stood at 5.36 bln rupees, up 5.7% from a quarter earlier. We are now await the results of the remaining two IT majors, Wipro and HCL Technologies, whose results will be announced over the next two weeks.
