I.T Stocks Outlook for the week – 27.02.2017 to 03.03.2017
I.T Stocks Outlook for the week – 27.02.2017 to 03.03.2017
( www.rupeedesk.in )
Stocks of information technology companies are likely to trade with a positive bias next week as the
market looks forward to a possible announcement of a buyback of shares by Infosys Ltd. Gains, however, may be capped as domestic stocks are likely to see a correction as traders book profits after six consecutive sessions of gains. The stock market will remain closed on Friday on account of Mahashivratri. Investors are speculating that sector major Infosys and other incumbent players may also announce a share buyback, as similar moves by TCS and Cognizant are expected to put pressure on them. On Monday, stocks of Tata Consultancy Services hit a three-month high of 2,555 rupees, as the company revealed its plan to spend 160 bln rupees to buy back 56.1 mln shares at 2,850 rupees a share. Amidst recommendations of a share buyback in Infosys by the two former chief financial officers of the company, markets are rife with commentary on exactly how much of its $5.25 bln reserves should be deployed for the buyback, if the decision is taken.
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I.T Stocks Outlook for the week – 27.02.2017 to 03.03.2017
( www.rupeedesk.in )
Stocks of information technology companies are likely to trade with a positive bias next week as the
market looks forward to a possible announcement of a buyback of shares by Infosys Ltd. Gains, however, may be capped as domestic stocks are likely to see a correction as traders book profits after six consecutive sessions of gains. The stock market will remain closed on Friday on account of Mahashivratri. Investors are speculating that sector major Infosys and other incumbent players may also announce a share buyback, as similar moves by TCS and Cognizant are expected to put pressure on them. On Monday, stocks of Tata Consultancy Services hit a three-month high of 2,555 rupees, as the company revealed its plan to spend 160 bln rupees to buy back 56.1 mln shares at 2,850 rupees a share. Amidst recommendations of a share buyback in Infosys by the two former chief financial officers of the company, markets are rife with commentary on exactly how much of its $5.25 bln reserves should be deployed for the buyback, if the decision is taken.