However, they have not specified the quantum of the buyback the company could announce. Infosys is scheduled to announce its Q2-FY23 numbers on October 12
Fears of a global recession have weighed heavily on domestic IT stocks. Amid concerns that the US and European clients may slash their IT budgets, do the sector valuations make them a contrarian bet?
In the past two weeks, the Nifty IT index has tanked 10 per cent, as against a 5 per cent decline in the Nifty 50.
However, the latest downgrade by Goldman Sachs has come as a setback for the sector
The tech-heavy Nasdaq index is down 22 per cent this year
The 100-WMAs hold the key for the Sensex and Nifty; Only a decisive breakdown of the same could mean medium-term bearishness for the benchmark indices.
The deterioration of the US corporate sector profitability would lead to tighter IT spending
Margin pressure and valuation premium point to downside for stocks
IT stocks have been on a downward spiral in 2022. In comparison, the Nifty50 index has moved up over 2% during this period. What is ailing the sector and why is it out of flavour on Dalal Street?
While the overall growth outlook is positive, there are headwinds for margins and valuations are at premium to large-cap IT firms
Strong deal wins are likely to keep revenue growth elevated
Brokerage Sharekhan pegs Wipro's September quarter revenue at Rs 19,444 crore over Rs 15,114.50 crore posted in the corresponding quarter a year ago
Analysts bullish over near-to-medium term
At 11:41 am; the S&P BSE IT index and Nifty IT indices were up 2 per cent each, as compared to 0.14 per cent gain in the benchmark indices the S&P BSE Sensex and Nifty50.
The Nifty IT index has managed to conquer the resistance of 27,500 which suggests a further upside towards 28,200 and 28,500 levels
TCS Q4 Preview: Analysts expect TCS to report a 9 per cent year-on-year (YoY) growth in revenue (in rupee terms) for the March quarter
Strong growth for the tech sector, margin headwinds for FMCG firms to tilt the scale in favour of the former, say analysts
In the month of March, the IT index has outperformed the market by surging 7.7 per cent as against a 1.3 per cent gain in the benchmark index till Wednesday
An up move above 26,000 levels may trigger a rally towards 27,000-mark in the Nifty IT index
After the recent correction in Nifty IT, the index is gradually rising