IT Stocks Outlook for the week – 08 to 12.05.2017
IT Stocks Outlook for the week – 08 to 12.05.2017
( www.rupeedesk.in )
The shares of information technology companies are seen trading in a range next week, largely with a negative bias, as concern about growth in the sector persists. Additionally, weak sentiment due to caution in the broader markets, as well as a volatile rupee, are seen weighing on the sector. Infosys' recent announcement on hiring 10,000 US nationals over two years has improved sentiment on the stock. The Bengaluru-based technology giant's shares are likely to bounce back to 940-960 rupees apiece in the coming week. Though investors' views over sector-leader Tata Consultancy Services have not changed since its poor performance for Jan-Mar, we suggest the stock for long-terms investors, owing to its fundamental strengths. Tech Mahindra is expected to remain weak ahead of the announcement of its earnings for Jan-Mar, with the company's shares seen falling to 360 rupees. The company will detail its Jan-Mar earnings on May 26.
Source : Cogencis Information Services Ltd.
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IT Stocks Outlook for the week – 08 to 12.05.2017
( www.rupeedesk.in )
The shares of information technology companies are seen trading in a range next week, largely with a negative bias, as concern about growth in the sector persists. Additionally, weak sentiment due to caution in the broader markets, as well as a volatile rupee, are seen weighing on the sector. Infosys' recent announcement on hiring 10,000 US nationals over two years has improved sentiment on the stock. The Bengaluru-based technology giant's shares are likely to bounce back to 940-960 rupees apiece in the coming week. Though investors' views over sector-leader Tata Consultancy Services have not changed since its poor performance for Jan-Mar, we suggest the stock for long-terms investors, owing to its fundamental strengths. Tech Mahindra is expected to remain weak ahead of the announcement of its earnings for Jan-Mar, with the company's shares seen falling to 360 rupees. The company will detail its Jan-Mar earnings on May 26.
Source : Cogencis Information Services Ltd.
