Infosys on Thursday cut its full-year revenue outlook in dollar terms by about 3 per cent because of mounting economic uncertainty in the euro zone, a move that did not go down well with investors.
HCL Technologies today reported a 58.4 per cent rise in consolidated net profit at Rs 1,496 crore (Rs 14.96 billion) for the second quarter ended December 31, 2013, on the back of growth in manufacturing and infrastructure services.
Currency volatility to have negative impact of 275 bps
TCS said FY15 will be a better year in terms of top line growth and the deal pipeline remains strong
Bharti's operating margin for India wireless business grew 80 basis points sequentially to 34.9 per cent.
Bharti'suarterly revenue run rate continues to be hover around the $1.2 billion mar
Shares in Infosys Ltd rose as much 6.7 percent on Friday, after the company raised the lower-end of its fiscal 2014 dollar revenue growth guidance.
A few analysts were surprised by the revenue growth of 3.8 per cent; many had expected revenue growth to be 2.5-2.7 per cent.
The Street is especially looking forward to the management commentary to get a sense of its new direction
The company's net profit went up 27% in December quarter, sequentially better than peers; core IT services up 33%..
The December quarter, generally a soft one for India's IT sector due to holidays and furloughs in certain sectors, is expected to be further affected because of currency volatility.
Given their growth prospects and reasonable valuations, Mindtree, Hexaware and NIIT remain top picks of most analysts.
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