Among sectors, the Nifty Metal index zoomed 3.5 per cent on the NSE today while the Nifty Realty index slumped 0.8 per cent
TCS is heading towards Rs 4,200 followed by Infosys, which is moving in the direction of Rs 2,100
BENGALURU (Reuters) -Infosys raised its revenue forecast and Tata Consultancy Services (TCS) predicted robust demand on Wednesday as the Indian IT giants said they expect tech spending to continue, particularly for digital services such as the cloud.
The three IT majors - Infosys, TCS and Wipro shall react to the Q3 earnings reported on Wednesday after market hours this morning.
Budget wish list: Citizens seek jobs, support for small biz and lower tax. More in today's top headlines
Infosys CEO Salil Parekh on Wednesday said the company is working closely with the Income Tax Department on the next set of areas related to the I-T portal as new modules will be added to it.
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In US dollar terms the company's revenue growth was 7 per cent in constant currency basis
Consolidated revenue rose 23% to Rs 31,867 cr
The BSE Midcap and Smallcap indices gained 1 per cent and 0.7 per cent, respectively. Telecom stocks logged smart gains after telcos pitched for 90-95 per cent cut in 5G spectrum auction prices
The three IT majors are scheduled to report Q3 earnings on Wednesday.
The third quarter is generally a low season for Indian IT companies due to furloughs in its markets. What factors will guide the markets today and how should you trade Voda Idea? This report answers
According to Jefferies, Infosys's growth will be impacted by seasonal softness, although deal ramp-ups should help drive 3.7 per cent quarter-on-quarter (QoQ) CC revenue growth
IT companies Infosys, TCS, Wipro, HCL Tech and Mindtree would announce their numbers.
The October-December (Q3) quarter is expected to be another strong quarter for IT companies after strong performance witnessed in Q2FY22.
Stocks like Asian Paints, Astral, Balrampur Chini, Birlasoft, Carborundum Universal, eClerx, Infosys, Max Healthcare, Tube Investments and Torrent Pharma and others are trading at life-time highs
The major IT stocks like Infosys, LTI, Coforge continue to absorb selling pressure at the counters
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Broad-based demand for digital, higher discretionary spends to help firms
With the withdrawal of easy and cheap money globally, fundamentals would come to fore, analysts suggest. Therefore, one needs to stay invested in the right quality of stocks, analysts suggest