IT Sector Q2 Result: Tomorrow i.e. October 7, the country’s largest IT company TCS is going to present its results.
IT Sector Q2 Result:
Tomorrow i.e. on October 7, TCS, the country’s largest IT company, is going to present its results. With this, the earnings season will begin for the second quarter in FY 2021. The financial performance of IT companies is expected to be better this quarter amidst the challenges of growing US Election and COVID 19 cases. Let us know that in the first quarter IT companies were hit by the lockdown. Orderbook of companies like Infosys, TCS, HCL Technologies, Wipro can be seen improving.
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Normal is getting demand
According to brokerage house Motilal Oswal, recently there are signs of recovery in IT sector due to the results and commentary of Accenture. This has improved the outlook of IT companies. Demand for IT services is becoming normal in the second quarter. Many big deals have been received or are in the pipeline. Slowly, things are coming to the pre COVID level. IT companies are getting good demand from Healthcare, Hitech, BFSI and Telecom sectors. The brokerage house may see 4% / 3% / 6% / 7% growth on a quarterly basis in 2QFY21 in US dollar revenue, rupee revenue, EBIT and adjusted PAT.
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Orderbook of companies strengthened
Jagdish Thakkar, director of Fortune Fiscal, says that there was no issue with IT companies when it comes to the first quarter. The results were affected by the sudden stoppage of demand due to COVID. However, now the demand is slowly improving. Older projects of companies working in international and domestic markets are being completed, due to which they are getting new orders. His order book is showing significant growth. At the same time, companies are also increasing their expenditure on new technology. Expect a good recovery in the business of companies like TCS, Infosys, HCL Tech, Wipro. TCS results on 7 October, Wipro on 12 October and Infosys on 14 October.
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Keep an eye on which shares
According to brokerage house Motilal Oswal, the challenges of the second wave of selection and Covid in the US will still remain on the IT sector. But even after this, the performance of the IT sector will be better this quarter. There is hope for further improvement in this. According to the brokerage, Infosys and HCL Tech in Tier 1 companies and Mindtree, Persistent Systems and LTI in Tier 2 companies may show good growth. At the same time, brokerages have given neutral ratings on TCS, Wipro, Tech Mahindra, Sint and Zensar Tech.
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Source: www.financialexpress.com
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