In the past one month, the stock of information technology (IT) major has declined 14 per cent after operating performance missed estimates in March quarter (Q4FY22).
Overall, the Nifty IT index has declined 19 per cent from its historic peak of 39,446 recorded in early January, 2022. Charts indicate 31,000 to 30,000 as the accumulation range for the index.
HCL Tech has guided for revenue growth of 12-14 per cent CC in FY23 on the back of continued traction in the services business, healthy deal intake and deal pipeline.
This rise in inflation in the US, according to analysts at Jefferies, is one big factor that will see most IT companies hike wages going ahead
The strong guidance indicates that spending on change programs continues to be robust, a positive for Indian IT.
The NSE IT index has been moving in a tight range, a breakout in either direcion can trigger a 2,000 points movement.
The nervousness in the IT stocks, analysts believe, is on account of rising employee costs at a time the business growth has been modest year-on-year in the December 2021 quarter (Q3FY22)
Infosys continues to defend the support from past four months; TCS shares have three supportive technical parameters that attract buying and accumulation.
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
The major IT stocks like Infosys, LTI, Coforge continue to absorb selling pressure at the counters
Major IT stocks are either on verge of breakout or holding the positive bias, the positive sentiment may see up to 10% gains
Frontline indices fell nearly 4 per cent in November. But, analysts expect sectoral-rotation to take place from here on. This report delves into one such sector and the stocks that are likely to shine
Stocks like TCS and LTTS may explore uncharted territories in current market volatility
Despite the current corrective phase in IT sector, the overall positive bias seems to be intact for these IT stocks as they hold crucial support levels
While Wipro does show some weakness, the overall trend, so far, has not been dented by the selling pressure
In the past four weeks, the BSE IT index has outperformed the market by surging 12 per cent, as compared to a 6.4 per cent rise in the S&P BSE Sensex
stocks in the mid-tier IT segment have been buzzing and continue to see a good investor interest. Here is the lists of mid-cap IT stocks that look good on the charts
The current price action of these three stocks needs breakout to gain further traction, suggest charts
As many as 17 stocks from the IT sector hit their respective record highs today
TCS was quoting higher for the fifth straight day, gaining 5% during the period, as compared to 3% rise in the benchmark indices