Macroeconomic factors unlikely to stall business-critical tech modernisation: Mindtree CEO
Earlier this year, Mindtree announced a mega-merger with LTI (Larsen & Toubro Infotech) to create an efficient and scaled-up IT services provider exceeding $3.5 billion in total revenue.
IT spend in US likely to remain resilient, large-caps like TCS, Infy & HCL safer bets
Though Indian IT companies have reported strong revenue growth in the June quarter, with most also maintaining or increasing their guidance, analysts remain cautious about the sector because of the concerns over a slowdown in the US, the biggest market.
Salary hikes for job switches to normalise as companies see slowdown in attrition
Companies are now focusing on controlling high wage bills, reducing retention costs, improving utilization amid a widespread fear of recession across key geographies like the United States and Europe.
Overall it was a week where we saw a bit of consolidation and now we are forming a new range. For the last three, four sessions we have made bottoms around the 17150 to 17200 mark and recovered from those lows every time while 17500 is acting as a resistance.
Can pharma sustain the rally? Chakri Lokapriya answers
“There is a move towards more complex generics which are higher margin and are subject to less price erosion in the US and also in the advanced markets. The US has traditionally been stronger pricing wise versus Europe. Against this whole backdrop, Lupin and Cipla because of the move towards complex generics, look to be positioned well.”
#MINDTREE In Mindtree, it seems there is a continuation of downtrend with weakening relative strength. As long as there is no closing above 3480 with high volume, a short trade can be initiated.
Market risk gradually fading; midcap IT may be a bit of an outlier: Dipan Mehta
“The kind of fear which was there in May, June is not there at this point of time and that certainly is positive. And maybe it is time to get specifically focussed on stocks which should do well over the next few quarters or so. Overall market risk seems to be gradually falling.”
India Inc signs over 1,100 deals worth over $104 billion in first half of 2022
According to the Grant Thornton Bharat Dealtracker report, the numbers show a 34 per cent increase in overall deal volumes, while deal values more than doubled with a 143 per cent rise in comparison to the same period last year.
For information technology and pharma sectors, which are export oriented, a weaker rupee is a positive, but analysts warn that these sectors also face risks of a demand slowdown due to recession concerns in the US. The textile sector is also being seen as a direct beneficiary of a weaker rupee.
Risky bets? Dilip Bhat on 3 stocks that can be 2x or 3x in five years
“Mahindra Finance appears to be a good potential candidate for giving reasonable returns over the next two to three years. Vedanta can be the second considering the basket of products and verticals that they are into. The third is ITC. It is one of the companies which can give a very stellar performance because the secular growth can be quite good.”
TCS setting up eight new centres that can seat 10,000 staffers each
Some of these centres are coming up in non-metro cities and will focus on tier two presence of the countrys largest IT services company, TCS chief financial officer Samir Seksaria told ET.
Rushing to stock up IT shares amid falling rupee? Here’s why it may not be a good contra bet in this market
"The cost for IT companies has increased due to higher attrition rate, inflated compensation and increased travelling cost which have hurt the operational performance and margins of the IT sector, neutralising the windfall gains of weak rupee," Bathini added.