I.T Stocks Outlook for the week – 02 to 05.05.2017
I.T Stocks Outlook for the week – 02 to 05.05.2017
( www.rupeedesk.in )
Stocks of information technology companies are seen declining marginally due to continuing negative
sentiment over stocks. Disappointing Jan-Mar performance of some large-cap companies in the sector,
rising visa issues, and growing protectionist views have led to a weak view on the sector. Also, a volatilerupee, which would have an impact on earnings of software exporters, is seen further dampeningsentiment on the sector. The Indian currency yesterday ended at 64.24 a dollar.While Infosys' sales growth guidance for 2017-18 (Apr-Mar) was weak, operating margin of ataConsultancy Services also did not meet market expectations. Investors have been recommended to steer clear of large-cap IT companies.HCL Technologies and Tech Mahindra are yet to report their earnings for the quarter ended March.Better-than-expected earnings of these companies coupled with some clarity on visa issues might bring relief to the sector. However, the recommended investing in mid-cap companies which have not only performed well in Jan-Mar but have also given positive guidance.Last week, the Australian government scrapped the foreign skilled workers policy and US President Donald Trump signed an executive order seeking to tighten visa norms.
Source : Cogencis Information Services Ltd.
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I.T Stocks Outlook for the week – 02 to 05.05.2017
( www.rupeedesk.in )
Stocks of information technology companies are seen declining marginally due to continuing negative
sentiment over stocks. Disappointing Jan-Mar performance of some large-cap companies in the sector,
rising visa issues, and growing protectionist views have led to a weak view on the sector. Also, a volatilerupee, which would have an impact on earnings of software exporters, is seen further dampeningsentiment on the sector. The Indian currency yesterday ended at 64.24 a dollar.While Infosys' sales growth guidance for 2017-18 (Apr-Mar) was weak, operating margin of ataConsultancy Services also did not meet market expectations. Investors have been recommended to steer clear of large-cap IT companies.HCL Technologies and Tech Mahindra are yet to report their earnings for the quarter ended March.Better-than-expected earnings of these companies coupled with some clarity on visa issues might bring relief to the sector. However, the recommended investing in mid-cap companies which have not only performed well in Jan-Mar but have also given positive guidance.Last week, the Australian government scrapped the foreign skilled workers policy and US President Donald Trump signed an executive order seeking to tighten visa norms.
Source : Cogencis Information Services Ltd.