I.T Stocks Outlook For The Week - 18.06.2018 To 22.06.2018
Stocks of information technology companies are likely to gain next week due to weakness in the rupee against the dollar and positive sentiment from Tata Consultancy Services Ltd's share buyback announcement made yesterday. A depreciating rupee aids revenue and margins of Indian IT companies, as they export a major chunk of their services. TCS' board yesterday approved buyback of shares at an over-15% premium to current market price, which also led its stock to a lifetime high of 1,847.10 rupees. Shares of Infosys Ltd also raised yesterday on hopes that the company may follow with its own share buyback offer later this year.
Source : Cogencis Information Services Ltd.
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Stocks of information technology companies are likely to gain next week due to weakness in the rupee against the dollar and positive sentiment from Tata Consultancy Services Ltd's share buyback announcement made yesterday. A depreciating rupee aids revenue and margins of Indian IT companies, as they export a major chunk of their services. TCS' board yesterday approved buyback of shares at an over-15% premium to current market price, which also led its stock to a lifetime high of 1,847.10 rupees. Shares of Infosys Ltd also raised yesterday on hopes that the company may follow with its own share buyback offer later this year.
Source : Cogencis Information Services Ltd.
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