IT Stocks Outlook for the week – 07 to 11.08.2017
IT Stocks Outlook for the week – 07 to 11.08.2017
( www.rupeedesk.in )
The shares of information technology companies may rise next week as market enters consolidation mode. Tech Mahindra Ltd declared its earnings for Apr-Jun. Beating market expectations; the company reported a 36% sequential rise in consolidated net profit, mainly due to a 1.7-bln-rupee rise in other income during the quarter. The topline company rose 0.6% in dollar terms and revenue from operations fell 2.1% to 73.4 bln rupees. Next week, shares of Tech Mahindra are seen trading in the range of 370- 460 rupees, while those of Infosys are seen finding support at 935 rupees and a resistance at 1,130 rupees. Shares of HCL Technologies are seen trading in the range of 830-980 rupees, while those of Tata Consultancy Services are seen trading with support in the range of 2,400-2,470 rupees and resistance between 2,625 rupees and 2,700 rupees.
Source : Cogencis Information Services Ltd.
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IT Stocks Outlook for the week – 07 to 11.08.2017
( www.rupeedesk.in )
The shares of information technology companies may rise next week as market enters consolidation mode. Tech Mahindra Ltd declared its earnings for Apr-Jun. Beating market expectations; the company reported a 36% sequential rise in consolidated net profit, mainly due to a 1.7-bln-rupee rise in other income during the quarter. The topline company rose 0.6% in dollar terms and revenue from operations fell 2.1% to 73.4 bln rupees. Next week, shares of Tech Mahindra are seen trading in the range of 370- 460 rupees, while those of Infosys are seen finding support at 935 rupees and a resistance at 1,130 rupees. Shares of HCL Technologies are seen trading in the range of 830-980 rupees, while those of Tata Consultancy Services are seen trading with support in the range of 2,400-2,470 rupees and resistance between 2,625 rupees and 2,700 rupees.
Source : Cogencis Information Services Ltd.
