I.T Sector Weekly Report – 06.11.2017 To 10.11.2017
I.T Sector Weekly Report – 06.11.2017 To 10.11.2017
The stocks of information technology companies are likely to trade within a narrow range next
week due to lack of definite cues for the sector. We are not expecting any major changes in
the prices of these stocks as long as the benchmark index for the sector stays within the 10900-
11000 point range.
The sector's benchmark index closed down in four sessions this week. Right now the pessimism is high in the Indian IT sector; we are seeing negative sentiments for the sector based on the price behavior, adding that there might be a good amount of buying of its stocks once the benchmark index
crosses 11000 points. On Wednesday, city-based Tech Mahindra Ltd detailed its Jul-Sep earnings, reporting a 4.6% onquarter rise in profit after taxes at 8.4 bln rupees. The company was expected to report a 10% sequential fall in Jul-Sep net profit. The sales of the CP Gurnani led company rose 3.6% sequentially in Jul-Sep. At a time when most of its Indian peers have cut sales guidance for 2017-18 (Apr-Mar), US-based Cognizant Technology Solutions Corp raised its 2017 sales guidance, for the second straight time in the last three months, to a minimum of $14.78 bln.
This week, Cognizant also declared a 9.1% on-year rise in the quarterly revenue for Jul-Sep. On
Tuesday, KPIT Technologies Ltd had posted a 7.7% on-quarter rise in consolidated net profit to
597.2 mln rupees in Jul-Sep. The revenue from operations was up 5.3% at 9.2 bln rupees during the
reporting period. Business process outsourcing service provider Hexaware Technologies Ltd had
detailed its Jul-Sep earnings on Wednesday. The company's net profit jumped 16.2% sequentially
and revenue from operations raised nearly 1% on-quarter. On Wednesday, Ramco Systems Ltd also had announced their Jul-Sep earnings, posted a consolidated net profit of 65 mln rupees, recovering from the 30-mln-rupee loss it posted in Apr-Jun.
This week, city-based company eClerx Services Ltd had reported consolidated Jul-Sep net profit of
887 mln rupees. The company expects revival in top line and operating profit in Oct-Mar, said Chief
Financial Officer Rohitash Gupta during an analysts' call on Thursday. Local search engine and e-commerce service provider Just Dial Ltd will detail its Jul-Sep earnings on Monday, and is expected to report a 5.6% sequential decrease in net profit which is seen around 374 mln rupees, according to Morgan Stanley Research. Zensar Technologies Ltd, which is likely to report a 5.5% sequential rise in consolidated net profit, will detail it's Jul-Sep earnings on Friday. In Apr- Jun, it had reported a net profit of 472.00 mln rupees, with net sales at 7.37 bln rupees Over the next week, investors will eye the appreciating rupee to gauge its impact on the pricearbitrage enjoyed by most Indian software exporters. Investors will also look out for any impact on the sector's income resulting from US President Donald Trump's proposed tax reforms.
Source : Cogencis Information Services Ltd.
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I.T Sector Weekly Report – 06.11.2017 To 10.11.2017
The stocks of information technology companies are likely to trade within a narrow range next
week due to lack of definite cues for the sector. We are not expecting any major changes in
the prices of these stocks as long as the benchmark index for the sector stays within the 10900-
11000 point range.
The sector's benchmark index closed down in four sessions this week. Right now the pessimism is high in the Indian IT sector; we are seeing negative sentiments for the sector based on the price behavior, adding that there might be a good amount of buying of its stocks once the benchmark index
crosses 11000 points. On Wednesday, city-based Tech Mahindra Ltd detailed its Jul-Sep earnings, reporting a 4.6% onquarter rise in profit after taxes at 8.4 bln rupees. The company was expected to report a 10% sequential fall in Jul-Sep net profit. The sales of the CP Gurnani led company rose 3.6% sequentially in Jul-Sep. At a time when most of its Indian peers have cut sales guidance for 2017-18 (Apr-Mar), US-based Cognizant Technology Solutions Corp raised its 2017 sales guidance, for the second straight time in the last three months, to a minimum of $14.78 bln.
This week, Cognizant also declared a 9.1% on-year rise in the quarterly revenue for Jul-Sep. On
Tuesday, KPIT Technologies Ltd had posted a 7.7% on-quarter rise in consolidated net profit to
597.2 mln rupees in Jul-Sep. The revenue from operations was up 5.3% at 9.2 bln rupees during the
reporting period. Business process outsourcing service provider Hexaware Technologies Ltd had
detailed its Jul-Sep earnings on Wednesday. The company's net profit jumped 16.2% sequentially
and revenue from operations raised nearly 1% on-quarter. On Wednesday, Ramco Systems Ltd also had announced their Jul-Sep earnings, posted a consolidated net profit of 65 mln rupees, recovering from the 30-mln-rupee loss it posted in Apr-Jun.
This week, city-based company eClerx Services Ltd had reported consolidated Jul-Sep net profit of
887 mln rupees. The company expects revival in top line and operating profit in Oct-Mar, said Chief
Financial Officer Rohitash Gupta during an analysts' call on Thursday. Local search engine and e-commerce service provider Just Dial Ltd will detail its Jul-Sep earnings on Monday, and is expected to report a 5.6% sequential decrease in net profit which is seen around 374 mln rupees, according to Morgan Stanley Research. Zensar Technologies Ltd, which is likely to report a 5.5% sequential rise in consolidated net profit, will detail it's Jul-Sep earnings on Friday. In Apr- Jun, it had reported a net profit of 472.00 mln rupees, with net sales at 7.37 bln rupees Over the next week, investors will eye the appreciating rupee to gauge its impact on the pricearbitrage enjoyed by most Indian software exporters. Investors will also look out for any impact on the sector's income resulting from US President Donald Trump's proposed tax reforms.
Source : Cogencis Information Services Ltd.
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