IT Stocks Outlook for the week – 01 to 05.02.2016
Seen
positive; Tech Mahindra earnings in focus
( www.rupeedesk.in )
Stocks
of information technology companies are seen trading with a positive bias next
week.
Focus will be on Tech Mahindra as it will detail its Oct-Dec results on Monday,
the
last among large-cap companies to do so. According to an average of 22
analysts'
estimates,
the information technology giant is likely to report a 3% sequential decline
in
consolidated net profit to 7.6 bln rupees, and a 2% on-quarter rise in consolidated
net
sales to 67.4 bln rupees in the quarter ended December.
Tech
Mahindra is the only stock which is looking weak in the next few sessions.
Market
participants are expected to invest cautiously in the sector, and are likely to
prefer
large-cap companies. Infosys is seen to be the most preferred in the sector
among
large-caps. Stocks of Tata Consultancy Services and Wipro, which have been
in
consolidation phase over the last few sessions. Among mid-cap companies,
Hexaware Technologies and Mindtree are likely to find preference