IT Stocks Outlook For The Week – 15 to 19.01.2018

IT Stocks Outlook For The Week – 15 to 19.01.2018

             Equity Cash/Futures/Options Segment 

The shares of information technology companies are expected to trade in a thin range with a negative  bias in the coming week, as investors likely to book profits. IT stocks may see profit booking next week after earnings, as they have run up too much in recent weeks. IT majors Tata Consultancy Services Ltd and Infosys Ltd detailed their earnings for Oct-Dec this week. While TCS posted 1.2% sequential growth in its consolidated net profit for the quarter, Infosys' consolidated net profit jumped 37.7% on quarter on the back of a tax agreement signed with the US Internal Revenue Service.  Revenue growth in dollar terms was, however, subdued for both the technology services providers during Oct-Dec. On a sequential basis, both the company's sales in dollar terms grew 1%. In the coming week, Wipro Ltd and mid-sized IT company Mindtree Ltd are scheduled to detail their earnings for Oct-Dec.

Source : Cogencis Information Services Ltd.

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