I.T Stocks Outlook For The Week - 21 To 25.05.2018
Stocks of information technology companies will continue to track trend in the broad market next week as investors eye the final outcome of the Karnataka government formation. The Supreme Court yesterday ordered a floor test for the Bharatiya Janata Party to prove majority to form the government. The floor test will be held in the Karnataka Assembly today, reducing the 15-day window given by Governor Vajubhai Vala to new Chief Minister B.S. Yeddyurappa, while taking oath on Thursday. Investors will also watch out for Tech Mahindra Ltd's Jan-Mar earnings performance, scheduled to be detailed on May 25. Tech Mahindra is the last large-cap IT company to announce its earnings for the March quarter. Movement of the rupee against the US dollar will also be closely tracked. Continued depreciation in the Indian currency would aid IT companies' margins as a large chunk of their services are exported.
Source : Cogencis Information Services Ltd.
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Stocks of information technology companies will continue to track trend in the broad market next week as investors eye the final outcome of the Karnataka government formation. The Supreme Court yesterday ordered a floor test for the Bharatiya Janata Party to prove majority to form the government. The floor test will be held in the Karnataka Assembly today, reducing the 15-day window given by Governor Vajubhai Vala to new Chief Minister B.S. Yeddyurappa, while taking oath on Thursday. Investors will also watch out for Tech Mahindra Ltd's Jan-Mar earnings performance, scheduled to be detailed on May 25. Tech Mahindra is the last large-cap IT company to announce its earnings for the March quarter. Movement of the rupee against the US dollar will also be closely tracked. Continued depreciation in the Indian currency would aid IT companies' margins as a large chunk of their services are exported.
Source : Cogencis Information Services Ltd.
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