“A lot of this is driven through everything we talked about in the last few quarters, the focus on in-account actions, extreme amount of focus on investing in relevant tech solutions, infusing a lot of tech and AI into these solutions to actually create a differentiation,” says Nitin Rakesh, CEO, Mphasis.Meanwhile, Manish Dugar, CFO, Mphasis … Read more
The midcap IT stocks‘ outperformance over their largecap peers and all other indices rests on their radical transformation from boys to men, argues Nuvama in a report. The brokerage picks LTIMindtree, Coforge and Persistent Systems as its top picks from the pack while initiating coverage on Mphasis with a ‘Reduce’ tag. Even as the Nifty … Read more
Equity markets witnessed a broad-based rally during the week, supported by robust macro data and sustained foreign inflows. During the week, as many as 68 smallcap stocks delivered double-digit weekly returns with four of them offering over 25% returns. DCM Shriram Industries was the top gainer in the smallcap pack with a nearly 32% return, … Read more
Indian IT companies are facing the heat amid an uncertain economic environment accentuated by weak global macros. As fears of economic slowdown have grown leading to delay or cancellation of projects, IT companies are finding it difficult to grow and worse even predict their near term growth trajectory. But this is not the first instance … Read more
NEW DELHI: Snubbing bearish views of most foreign institutional investors (FIIs) on IT stocks amid recession-related worries in western economies, India’s largest domestic investor LIC is making a contra bet. The March quarter shareholding pattern shows that the state-owned insurer hiked stakes in seven of the biggest Indian tech majors – TCS, Infosys, Tech Mahindra, … Read more
Mumbai: US brokerage firm JP Morgan maintained its underweight stance on the Indian IT sector and said the technology services companies remain at continuous risk of earnings de-rating and downgrades. Revenue growth trends have normalised to single digits as witnessed prior to the outbreak of the Covid-19 pandemic, it said. “TCS and Infosys‘ very disappointing … Read more
Mumbai: Investors looking to buy shares of technology companies such as TCS, Infosys and HCL Tech among others amid the recent weakness could consider accumulating them after three to six months. With the banking and financial sectors in the developed economies especially the US – a segment that contributes a sizeable chunk to the domestic … Read more
NEW DELHI: The world over investors have been dumping bank stocks in the wake of the banking turmoil in the US and Europe but foreign institutional investors (FIIs) are singing a different tune when it comes to India. Market data shows that FIIs ended up buying financial stocks worth about Rs 2,800 crore in the … Read more
NEW DELHI: Nifty IT, which was the biggest wealth eroder in 2022 with a heavy loss of 26% is now gradually turning out to be the best performing sector. In the last one month, when the benchmark Nifty has been flat, the IT barometer has shot up over 10% to become the No. 1 performer. … Read more
“In our portfolio, we have players like Persistent and . Initially, in the next couple of quarters, there will be low growth but over the next two to three years, they can do more than 10-12% kind of revenue growth because the headwinds of rising wage hike and other related costs are almost behind us. … Read more