HDFC Sec expects 2-3 percent USD revenue growth for India IT

HDFC Securities expects large cap Indian software services exporters to report 2-3 % quarter-on-quarter USD revenue growth in the January-March period.

Currency movements would have a negative impact of 30-60 bps on USD revenues for Tier 1 IT vendors, HDFC Securities said in a note dated April 5.

HDFC expects the full impact of Lodestone acquisition will enable Infosys Ltd to report 3.8 % q-o-q USD revenue growth.

The brokerage expects Tata Consultancy Services Ltd to report sequential USD revenue growth of 3.1 %  while "robust" traction in infrastructure management services is likely to enable HCL Technologies Ltd grow USD revenues 2.6 % sequentially.

 

HDFC Securities expects Wipro Ltd to report the weakest growth among Tier 1 peers set at 2 % q-o-q USD revenue growth.

Infosys and TCS end down 1.2 % and Wipro shares fall 1.3 %.