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Despite the headwind of furloughs and rupee appreciation, margins of growth for Tech Mahindra is expected to be flat in Q3FY21
Tata Elxsi, Larsen & Toubro Infotech, Wipro, Cigniti Technologies, Ramco Systems and Tech Mahindra were up in the range of 2 per cent to 6 per cent
TCS hit a new high of Rs 3,261 on the BSE in intra-day deals today
Sharekhan expects the company to maintain its margin guidance of 20 per cent-21 per cent for FY21
Indian stocks continue to be the beneficiaries of benign foreign portfolio investor (FPI) flows amid signs of recovery in the economy
Volatility index, India VIX, surged 8.5 per cent to 22.4 levels
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With the market-cap of Rs 1.02 trillion at 02:15 pm, Tech Mahindra became the fifth IT company to join the Rs 1-trillion market-cap club
Deal ramp-up, healthy pipeline and cost tailwinds to offset seasonally weak quarter
Persistent foreign fund inflows supported the benchmarks, though a weakening rupee capped the gains, traders said.
Analysts estimate the company's revenue to grow 8 per cent in 2021-22, the highest since 2015-16
The gains in the indices were led by IT majors Infosys and TCS
Infosys, HCL Technologies, Tech Mahindra, Larsen & Toubro Infotech, Coforge and Mindtree were up in the range of 3 per cent to 6 per cent on the NSE
Birlasoft key alliances include Oracle, JD Edwards, SAP, Infor and Microsoft
Analysts have revised their growth guidance for FY22
With the global IT behemoth reporting sharp uptick in outsourcing business, and broad-based recovery across verticals and markets, here is how analysts read through the numbers
Strong deal pipeline is keeping analysts bullish; 41 out of 45 have a 'buy' rating
The market expects a strong bounce in earnings growth in FY22 with a growth of more than 30 per cent on a YoY basis.
The significant feature of equity market performance in Samvat 2076 has been the sharp divergences both across and within sectors and companies.
On the other hand, PSU stocks and banks have been laggards - with ONGC, Indian Oil, IndusInd Bank, and Coal India delivering the worst returns.