Shares of Tata Consultancy Services (TCS) and HCL Technologies have touched record highs today after information technology (IT) major Infosys retained its revenue growth guidance in dollar terms for the year ending March 31, 2014 (FY 2014).
TCS is trading higher by 2.4% at Rs 1,645, extending its previous day’s nearly 3% gain on the Bombay Stock Exchange (BSE). HCL Technologies too, surged almost 3% at Rs 883 after gaining 3% on Friday.
Infosys has maintained its FY2014 dollar revenue growth guidance at 6-10% as against analyst expectation of reducing it down to 6-8%, which is encouraging.
Analyst at Angel broking believes a healthy June quarter performance by Infosys increases the probability of achieving/beating the top end of the guidance.
Meanwhile, TCS is expected to post an almost flat EBITDA (earnings before interest, tax, depreciation and amortization) margin sequentially at 28.3% as the gains due to currency will be absorbed by the headwinds on account of wage hikes given during the quarter. HCL Tech is expected to report a 92bp qoq expansion in EBITDA margin to 23.3%, says analyst.
TCS is schedule announce its financial results for the quarter ended June 30, 2013 on Thursday, July 18, while HCL Technologies, yet to announce the board meeting date.
TCS is trading higher by 2.4% at Rs 1,645, extending its previous day’s nearly 3% gain on the Bombay Stock Exchange (BSE). HCL Technologies too, surged almost 3% at Rs 883 after gaining 3% on Friday.
Infosys has maintained its FY2014 dollar revenue growth guidance at 6-10% as against analyst expectation of reducing it down to 6-8%, which is encouraging.
Analyst at Angel broking believes a healthy June quarter performance by Infosys increases the probability of achieving/beating the top end of the guidance.
Meanwhile, TCS is expected to post an almost flat EBITDA (earnings before interest, tax, depreciation and amortization) margin sequentially at 28.3% as the gains due to currency will be absorbed by the headwinds on account of wage hikes given during the quarter. HCL Tech is expected to report a 92bp qoq expansion in EBITDA margin to 23.3%, says analyst.
TCS is schedule announce its financial results for the quarter ended June 30, 2013 on Thursday, July 18, while HCL Technologies, yet to announce the board meeting date.
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