<ul><li>For the current financial year, <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> said that it’s likely to maintain its quarterly run rate of winning deals worth $7-9 billion.</li><li>TCS’ COO Subramaniam added that it’s natural to expect some softness in long-term deals and decisions, given the macro environment.</li><li>There is an increasing sense of caution amongst clients but it hasn’t made its way into deal wins as yet, says TCS. </li></ul>IT major TCS on Monday said that it has not yet seen any caution that’s being exercised by clients making its way into its deal wins. It said that it’s likely to maintain its quarterly run rate of winning deals worth $7-9 billion. “There is no need to change that kind of focus. In fact, we would like to win more,” <keyword id="4196930" type="General" weightage="20" keywordseo="N-Ganapathy-Subramaniam" source="Orion">N Ganapathy Subramaniam</keyword>, the chief operating officer of TCS said in a press conference after<a href="https://www.businessinsider.in/business/corporates/news/tcs-q2-net-profit-crosses-10000-cr-for-the-first-time-reports-10-sequential-growth/articleshow/94764279.cms"> it reported a 10% growth in July-September net profit</a> to ₹10,431 crore and 4.8% growth in revenue to ₹55,309 crore, beating street expectations. The order book of the company stood at $8.1 billion at the end of the September quarter. Talks of a possible recession in its most important market – North America – has had equity markets worried about the IT sector. “We will know in 3-6 months about next year’s budgetary decisions,” said Rajesh Gopinathan, CEO and MD of TCS, referring to the US. Subramaniam also added that it’s natural to expect some softness in long-term deals and decisions, given the macro environment. “With regards to Europe, we will see how the winter will be, and expect some softness,” he added. Gopinathan said that Covid has proved that tech is core to transformation, growth and resilience and that TCS has a relevant portfolio for that. “We are seeing an increasing caution in discussions with clients. We cannot say that we are totally insulated from it but as we said last quarter, we are vigilant of the environment and focussed on a set of customers,” said Gopinathan. Last month, Accenture gave a <a href="https://www.businessinsider.in/business/corporates/news/accentures-disappointing-q1-and-fy23-forecasts-indicate-more-pain-for-the-it-sector/articleshow/94392402.cms">weak guidance of around</a> 8-11% for the fiscal year – which has made markets and analysts cautious about the prospects of the IT sector, and its demand outlook. So much so that Jefferies too said that it will closely watch out for a revision in FY23 guidance from Infosys, HCL Tech and Coforge. “However, we do not expect it to happen as a part of the second quarter result announcements,” said Jefferies’ <a href="https://www.businessinsider.in/business/corporates/news/infosys-to-lead-it-sectors-q2-show-with-4-revenue-growth-says-jefferies/articleshow/94606976.cms">IT sector preview</a>. Since the last quarter, deal sizes have been coming down and that has continued for this quarter too. Most of the deal wins are in the $200-400 million range. “There are none above $500 million and nothing to call out,” said Samir Seksaria, chief financial officer of the company. He also said that the headwinds from the supply-side challenges are abating – which has set them up well for the seasonally weak second half of the year. Gopinathan said that they are staying close to the customers. “We are trying to carve a niche and minimize the impact of volatility,” he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/moonlighting-is-an-ethical-issue-says-tcs-hr-head/articleshow/94765592.cms">Moonlighting is an ethical issue, says TCS HR head</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-q2-net-profit-crosses-10000-cr-for-the-first-time-reports-10-sequential-growth/articleshow/94764279.cms">TCS Q2 net profit crosses ₹10,000 cr for the first time, reports 10% sequential growth</a>

Slowdown hasn’t affected deal wins yet but seeing softness in long-term deals: TCS

<ul><li><keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> closed 0.53% or 320 points higher at 60,942 while <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> ended up 0.50% or 91 points at 18,119.</li><li>Sun Pharmaceuticals, Hindustan Unilever, Eicher Motors, UPL and Tech Mahindra were top gainers on the 50 stock index Nifty50.</li><li>The range-bound movement is likely to continue in the run-up to the Budget 2023-24, according to analysts.</li></ul>India’s benchmark indices Sensex and Nifty50 ended higher on Monday led by gains in shares of IT, pharmaceuticals, FMCG companies and positive cues from global markets. Sensex closed 0.53% or 320 points higher at 60,942 while Nifty50 ended up 0.50% or 91 points at 18,119. Sun Pharmaceuticals, Hindustan Unilever, Eicher Motors, UPL and Tech Mahindra were top gainers on the 50 stock index Nifty50. On Friday, Sensex and Nifty50 closed in the red – while Sensex declined 237 points to close at 60,622, Nifty50 fell 80 points to close at 18,028. The rangebound movement is likely to continue in the run-up to the Budget 2023-24, according to analysts. Top gainers and losers on Nifty500 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Torrent Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.52% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coforge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.99% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infibeam Avenues </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.82% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhivery </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.58% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Energy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.89% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Can Fin Homes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.55% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cements </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Persistent Systems </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.17% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rajesh Exports </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.19% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: NSE, as on January 23, 2023 “Markets maintained the upward momentum through the trading session on positive cues from Asian and European indices. IT stocks emerged as the star performers after getting hammered in recent sessions on worries global IT spending may moderate this year due to likely slowdown in key economies. If the optimism continues, we may see some pre-budget rally in the truncated week,” said Shrikant Chouhan, head of equity research (retail) at Kotak Securities. Prices of crude oil continued to edge up – Brent crude oil prices were up 0.7% on Monday, at $88.24 per barrel. On the other hand, the rupee fell 21 paise against the US dollar to close at 81.38, reversing its gains from this morning when it appreciated 19 paise to fall below the 81 mark for the first time in two months. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sectoral indices </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty IT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.88% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.89% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty FMCG </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.83% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.83% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.74% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.61% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Private Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.58% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty PSU Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.44% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Media </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.14% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Metal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.40% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Realty </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.63% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: NSE, as on January 23, 2023 Besides, investors also took some support from strong corporate earnings reported by banks and expectations of a less aggressive rate hike going ahead. “Market breadth tilted in favour of bulls lifted by financial stocks, amid positive cues from global peers. Strong corporate earnings reported by banks boosted appetite for financial stocks. Positive global markets owing to possibility of a less aggressive rate hike, further added colour,” said Vinod Nair, head of research at Geojit Financial Services. Positive cues in global markets Markets in the US snapped a three-day losing streak on Friday to close in the green, boosted by Netflix’ earnings and job cuts announced by US tech companies. While the S&amp;P 500 closed 1.89% up, the Dow Jones Industrial Average gained 1%. The tech-heavy Nasdaq posted a gain of 2.66%. This comes even as the US government hits its $31.4 trillion debt ceiling on Thursday, with the administration now using extraordinary cash measures to stave off a crisis. In Asia, while some key major markets like China were closed for holidays, Japan’s Nikkei 225 index ended in the green with a gain of 1.33%. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/ai-as-a-service-to-free-speech-platforms-and-social-commerce-these-are-the-big-emerging-trends-of-2023/articleshow/97172911.cms">AI as a Service to free speech platforms and social commerce, these are the big emerging trends of 2023</a> <a href="https://www.businessinsider.in/business/corporates/news/rils-q3-net-profit-stays-flat-at-15792-crore-retail-and-jio-deliver-while-o2c-drags-due-to-weak-demand/articleshow/97179878.cms">RIL’s Q3 net profit stays flat at ₹15,792 crore – retail and Jio deliver, while O2C drags due to weak demand</a> <a href="https://www.businessinsider.in/business/corporates/news/google-to-axe-12000-jobs-ceo-sundar-pichai-says-company-hired-for-a-different-economic-reality/articleshow/97176523.cms">Google to axe 12,000 jobs; CEO Sundar Pichai says company hired for a different economic reality</a>

Sensex, Nifty50 end higher led by gains in IT, pharma and FMCG stocks

<ul><li>The Indian stock markets opened on a positive note on July 22 even as Japan, Australian and South Korean markets reported a mixed performance.</li><li>Trends on <keyword id="90570" type="General" weightage="80" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword> showed an increase of 27 points, suggesting that <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> could open slightly in the green amid volatility in other Asian markets.</li><li><keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword>, <keyword id="6357073" type="General" weightage="50" keywordseo="itc" source="Orion">ITC</keyword>, <keyword id="6355596" type="General" weightage="80" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword>, ICICI Bank and <keyword id="6354512" type="General" weightage="50" keywordseo="infosys" source="Orion">Infosys</keyword> could be among the top stocks to watch out for on July 22.</li></ul>Indian stock markets could open on a volatile note on July 22 after their Asian peers in Japan, Australia and South Korea experienced mixed performance. On the other hand, Nasdaq and S&amp;P 500 futures declined. SGX Nifty, an early barometer of what can happen in the Indian stock markets, was up 27 points or 0.16% as of 8 am today. The European Central Bank also raised interest rates for the first time in 11 years, with a 0.5% hike announced yesterday. Here are some of the stocks which will likely be in focus today: Reliance Industries The Mukesh Ambani-led conglomerate will declare its June quarter results today. It is expected to post a strong earnings growth in the June quarter thanks to higher refining margins. Biocon The USFDA concluded a pre-approval inspection of its Hyderabad plant with three observations. The company says it will address this within the stipulated time. ITC The tobacco-to-paper giant revived plans to spin off its hotel business. Its chairman <keyword id="1968926" type="General" weightage="80" keywordseo="sanjiv-puri" source="Orion">Sanjiv Puri</keyword> also remarked that inflation could stay at elevated levels. IndiaMart IndiaMesh Reported a 47% year-on-year decline in net profit to ₹47 crore while revenue grew 7% to ₹226 crore in the same period. JSW Energy Reported a 179% increase in net profit to ₹560 crore year-on-year while revenue surged 68% to ₹3,115 crore in the same period. EBITDA surged 34% to ₹1,111 crore. RBL Bank Bounced back in the green with a profit of ₹201 crore in the June quarter, as against a loss of ₹459 crore in the same period last year, largely due to an 82% fall in provisions. Net interest income grew 6% to ₹1,028 crore. CEAT Reported a 61% drop in its net profit to ₹9 crore year-on-year, as high raw material prices had a large adverse impact on its bottom line. Revenue surged 48% in the same period to ₹2,818 crore. Cyient The Hyderabad-based software company reported a marginal increase of 0.9% in net profit to ₹116 crore, while revenue increased 18% to ₹1,250 crore. Earnings today Reliance Industries, UltraTech Cement, JSW Steel, Coforge, Bandhan Bank, Crompton Greaves Consumer Electricals, Mahindra CIE Automotive, among others. Earnings on July 23 ICICI Bank, Kotak Mahindra Bank, Yes Bank, Coastal Corporation, Steel Exchange India, among others. Earnings on July 24 Infosys. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-6a-review-a-photography-delight-at-a-premium/articleshow/93036874.cms">Google Pixel 6a review – a photography delight at a premium</a> <a href="https://www.businessinsider.in/business/news/india-has-more-kfcs-and-pizza-huts-than-canada-or-mexico/articleshow/93023684.cms">India has more KFCs and Pizza Huts than Canada or Mexico, and they’re customized too</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-prime-day-best-offers-deals-discounts/articleshow/93024348.cms">Amazon Prime Day 2022 – early deals, bank offers, Prime membership and everything else you need to know</a>

Indian markets open in the green – RIL, M&M gain while Nifty IT, Infosys decline

<ul><li>For FY23 <keyword id="6370971" type="General" weightage="20" keywordseo="accenture" source="Orion">Accenture</keyword> has forecast revenue growth of 8% to 11% in local currency factoring the challenging macro environment.</li><li>The company expects attrition to continue to be an issue for the sector and has factored wage inflation in the revenue growth guidance for the next quarter.</li><li>Analysts believe that the company’s rising focus on cost optimization, weaker hiring, and soft FY23 revenue growth guidance suggests some caution going ahead.</li><li>The labour market remains tight for the sector with Accenture reporting attrition levels of 20%, steady on a quarterly basis.</li></ul>Dublin-based tech major Accenture gave out disappointing guidance for the next quarter and fiscal year, indicating a cautious road for the IT sector going ahead. For FY23, the IT major forecast revenue growth of 8% to 11% in local currency factoring the challenging macro environment. For Q1 FY23, the company gave a revenue guidance of $15.2 billion-$15.75 billion. Accenture follows a September-August financial year. Moreover, the company expects attrition to continue to be an issue for the sector and has factored wage inflation in the revenue growth guidance for next quarter. “We do expect wage inflation to continue, and we have factored that into our guidance,” KC McClure, chief financial officer at Accenture said in a transcript of an earnings conference call. On Thursday, Accenture reported fourth-quarter (June-August) revenue that was largely in line with estimates and better-than-expected profit. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% growth YoY </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% growth QoQ </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue (in $) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$15.42 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit after tax </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.69 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Analysts believe that the company’s rising focus on cost optimization, weaker hiring, and soft FY23 revenue growth guidance suggests some caution going ahead. Tight labour markets are a problem as well. Accenture reported attrition levels of 20%, unchanged on a quarterly basis. “Accenture's attrition remained steady QoQ at 20%, implying that labour markets remain tight. Management expects wage inflation to continue going into FY23. Accenture's net hiring in 4Q moderated further to 11K - the lowest in seven quarters, which although higher than pre-Covid levels, does indicate moderation in growth expectations,” said analysts at Jefferies. Disappointing guidance by peer Accenture indicates slowdown for the Indian IT space as well. “Weak revenue guidance for Q1FY23 and FY23, below-consensus expectations, point towards slowing demand ahead for the Indian IT services industry. Plus, slowing pace of hiring for the last two quarters (despite elevated attrition) implies weak demand visibility. We expect a similar slowdown in hiring to continue for Indian IT services as well,” said analysts at ICICI Securities. Meanwhile, shares of most Indian IT companies were trading on a positive note. Analysts say it was a recovery buying following a huge sell off during the year. “After a fall of 30-40% from highs, some recovery is expected to happen in most IT stocks. While some recovery is definitely going to be there after a big fall, the sustenance of the same is a big question mark now given that we are not seeing a remarkable recovery or possible recovery in the US and Europe," Sanjeev Hota, vice president - head of research at Sharekhan, told Business Insider India. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% change in six month </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mphasis </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-37% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-35% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-33% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T Technology Services </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-29% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-26% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Larsen &amp; Toubro Infotech </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-26% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-24% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Coforge </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-23% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-22% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-19% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> "For future margin as well as revenue, if you see management commentary it is not very promising. Further, there could be some moderation in the budget cycle for next year because of the slowdown in the US, that is the reason I believe most of the IT stocks are moving sideways and getting negative movements,” added Hota. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/reliance-new-energy-picks-up-20-stake-in-caelux-to-shore-up-its-position-in-advanced-solar-tech/articleshow/94388449.cms">Reliance New Energy picks up 20% stake in Caelux to shore up its position in advanced solar tech</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/four-billionaires-debut-on-rich-list-after-ipos/articleshow/94384190.cms">Four billionaires debut on rich list after IPOs</a>

Accenture’s disappointing Q1 and FY23 forecasts indicate more pain for the IT sector

<ul><li><keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> was the biggest loser on Nifty 50 dragging the indices down with nearly 5% fall followed by other IT peers.</li><li>Investors feared possible recession in the US after the IT giant reported poor earnings in the last three months.</li><li> Further, the market participants will keep an eye for similar trends in results of other IT companies.</li></ul>A lot of stock market hopes were pinned on corporate earnings this year, and <a href="https://www.businessinsider.in/stock-market/news/tcs-to-flag-off-the-earnings-season-heres-what-to-expect/articleshow/92713823.cms">TCS in particular</a>. And, its profits that grew a modest 5% with added cost pressures have dragged down its share price along with that of the entire IT pack. TCS shares were the biggest losers on Nifty 50, as its stock went down by around 4.47% in early morning trade. This only hardens the fears of a possible recession in the US which will lead to a slowdown in the domestic IT majors. The stock of <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> went down by 3%, HCL Tech by 2.62% and Tech Mahidra too went down by 2.28%. However, even Infosys’ stock whic<a href="https://www.businessinsider.in/investment/news/infy-lic-reliance-and-6-more-stocks-that-mutual-funds-are-going-long-on/articleshow/92693363.cms">h is the mutual fund darling too we</a>nt down by 2.49%, even though it has been rated as the best of the worst by many analysts. “We anticipate Infosys to lead on the organic revenue front with growth of 4.3% on quarter in constant currency. Growth in TechM, Wipro and HCL is expected to be soft due to seasonal weakness and moderation in demand,” said a report by ICICI Securities, i<a href="https://www.businessinsider.in/tech/enterprise/news/infosys-to-lead-the-pack-this-earnings-season-while-margin-pressure-will-continue-for-two-quarters/articleshow/92718728.cms">n an earnings preview</a>. While a strong Dollar could have been good news for IT companies, the cross-currency headwinds due to extreme volatility of all currencies is bound to have an impact on their earnings. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price as of 10:10 a.m. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.47% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coforge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.68% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Larsen &amp; Toubro Infotech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.07% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.55% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.55% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T Technology Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.53% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.47% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.22% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mphasis </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.19% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>TCS’ profits rose by around 5% in the year on year comparison and on a quarterly basis, it fell by 5% to o ₹9,478 crore. This is on account of increased costs across streams — like travel expenses in addition to employee benefit costs. The company said that it was a challenging quarter from a cost management perspective as it impacted their operating margin. Moreover, the fact that the firm is cautious of global uncertainties also worried investors. CEO and MD Rajesh Gopinathan said, “Pipeline velocity and deal closures continue to be strong, but we remain vigilant given the macro-level uncertainties." In addition, TCS’s attrition also continued to rise as the issue of number of employees leaving IT firms still persists. Its attrition rate has gone up to 19.7% from 17.4% last quarter. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/after-energy-media-and-consumer-goods-its-adani-vs-ambani-in-telecom/articleshow/92772403.cms">After energy, media and consumer goods, it's Adani vs Ambani in telecom</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/tcs-earning-reports-of-2022-23-first-quarter-in-simple-10-points/slidelist/92751997.cms">TCS June 2022 results – 10 things to know about the IT giant’s latest earnings</a>

TCS tumbles and drags down to Wipro, Infosys, Tech Mahindra and LTTS with poor earnings

<ul><li>IT consulting firm Accenture’s revenue for Q1 FY22 jumped 27% to $14.97 billion compared to $11.76 billion in the last fiscal year.</li><li>Revenues were more than $600 million above the company’s guided range of $13.90 billion to $14.35 billion.</li><li>Following this, Accenture has raised its revenue growth outlook for FY22 between 19% and 22% from 12% to 15% forecast earlier as it continues to seek demand for cloud transformation.</li></ul>While the market momentum is weak on Friday, information technology (IT) company stocks are the outliers as they hope for a better demand environment and growth prospects after its US-based peer Accenture reported a strong earnings in Q1 (September-November quarter) and also raised its business outlook for financial year (FY) 2022. IT consulting firm Accenture’s revenue for Q1 FY22 jumped 27% to $14.97 billion compared to $11.76 billion in the last fiscal year. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 revenue guidance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">In percentage terms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">In the range of 19% and 22% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">In absolute terms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$14.30 billion to $14.75 billion </td></tr></tbody><tbody></tbody></table> Besides, the company also declared a quarterly cash dividend of $0.97 per share, up 10% from a year ago. The company attributes the great performance to its efforts to turn businesses to digital, cloud and also hiring and upskilling employees at the same time. The company added 50,000 people in the September-November quarter taking the overall headcount to 6.84 lakh. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian IT stocks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gains as of 11:20 a.m., on December 17 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mphasis </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+1.86% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+1.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Larsen &amp; Toubro Infotech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+1.47% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+1.41% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.75% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coforge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.63% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.46% </td></tr></tbody><tbody></tbody></table> Julie Sweet, chairperson and chief executive at Accenture said that, “Our outstanding first-quarter financial performance and ability to capitalise on the market opportunity reflects continued market share gains. This is the direct result of having executed for years a strategy to rotate our business to digital, cloud and security, both hiring and upskilling exceptionally talented people across the globe and fostering deep relationships with both the world’s leading companies and our technology partners.” While US-based Accenture sees a revenue growth of 19%-22%, Indian IT major <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> forecast a revenue growth of 16.5% to 17.5% in FY22. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth guidance for FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.5% - 17.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Double digit growth guidance </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Double digit growth guidance </td></tr></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/flipkart-ipo-may-reportedly-happen-overseas-in-november-next-year/articleshow/88332486.cms">Flipkart IPO may reportedly happen overseas in November next year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-rategain-travel-technologies-disappoints-ipo-investors/articleshow/88332140.cms">RateGain Travel Technologies makes a disappointing listing at 10% discount</a>

US-based peer Accenture’s uptick in FY22 outlook gives hopes to IT firms in India; Infosys, Wipro, TCS gain

TCS, Infosys, L&T triplets tank on US troubles — wiping $10 billion off tech wealth

<ul><li>Markets around the world have been under tremendous pressure due to rising interest rates, inflation indirectly caused by Russia Ukraine war and covid-19 effects.</li><li>While the US market is already in the bear market zone, Indian markets are eerily close to the bear market territory.</li><li>Analysts have recommended certain sectors and stocks that are worth investing even in a negative market.</li></ul>The bears have taken over the US equity markets. While the Asian markets are performing better in comparison, the four-day losing streak in the Sensex and Nifty without any profit booking indicates a possibility that India might be in the red zone too. When a stock or an index falls 20% from its recent or all-time high for a sustained period of time, it is said to be in a bear market. According to analysts, Indian markets are another 10% correction away from it, and it all hangs on an announcement around a recession in the US markets. Markets have also been falling in India on the fear that the US Fed will increase interest rates after its inflation to 40-year high. “The fear/expectations have increased from 50 bps to 75 bps and that’s the reason we are seeing a fresh sell-off in the US markets. The 10-year bond yield is also at the highest point in the last 10 years, which is negative for equity markets,” Shrikant Chouhan, head of equity research (Retail) at Kotak Securities told Business Insider. But, a possible bear market or even a bear market is not a good cue for investors to pack their bags – due the <a href="https://www.businessinsider.in/stock-market/news/why-you-should-continue-your-investments-and-sips-in-bear-markets/articleshow/92199199.cms">possibility of value buying</a>. “Now that the (Indian) market has entered a bear market, there is still a 10% to 15% correction left in the market where it can touch 15000 to 14700 nifty, but value buying can be done on an accumulated basis for more than 3 years,” said Ravi Singhal, vice chairman, GCL Securities. Buy at value in sectors that are inflation proof India however is facing its own headwinds as the low interest rate regime is ending and inflation is eating into a lot of businesses. So for value buying, investors should pick inflation-hedged sectors like IT, mining, power, pharma, oil, gas and FMCG, says Ravi Singh, vice president and head of research at Share India. According to Singh, most of these sectors are trading at an attractive range. In spite of a huge meltdown, most analysts also vote for the <keyword id="46964" type="General" weightage="20" keywordseo="it-sector" source="Orion">IT sector</keyword> even in a bear market. The sector saw a huge selloff on fear that their biggest markets – the US, might be under the throes of a slowdown or even a recession. “The current phase of the IT sector is intriguing where the attention has shifted towards recession scenarios even as current demand is extremely strong,” said the Kotak Institutional Equities report. This very meltdown makes the tech stocks extra attractive. “After discount Nifty IT looks great near 26,000 levels. TCS, Wipro, Infosys, Mindtree and Coforge look good after discount,” said Singhal. Due to heavy selling in IT stocks, analysts expect the stocks to bottom out at higher multiples and then move up from there. Infosys, TCS and HCL Tech are some of the top picks of analysts. “The market is becoming more and more stock-specific and it is likely that market participants will decide which is the more attractive sector after the announcement of a policy decision from the Fed. At current levels, we prefer financials and select technology stocks,” added Chouhan. <keyword id="34544" type="General" weightage="20" keywordseo="oil-sector" source="Orion">Oil sector</keyword> biggest beneficiary of the Russia-Ukraine war The only sector that has benefitted the unfortunate war between Russia and Ukraine is oil. Crude oil prices have zoomed to multi-year high at $120 per barrel. In fact, oil producing companies -- Oil India and ONGC <a href="https://www.businessinsider.in/business/corporates/news/oil-india-doubled-investor-money-in-a-year-while-its-big-sister-ongcs-wells-indicate-a-dry-future/articleshow/92126120.cms">reported a strong set of numbers </a>in Jan-Mar because of high crude oil and gas prices. “We like RIL, ONGC and Oil India from the oil and gas sector,” said Chouhan. Another sector that may not be very impacted with the high inflation or a potential recession is the pharmaceutical sector. Over the past two years, the pharma index has consistently outperformed the benchmark indices and is expected to continue going ahead as well. “The confluence of factors including focus on specialty/complex products in addition to emerging opportunities in the API space would be key growth drivers. Collectively, though near-term headwinds are likely to sustain, long term growth prospects are intact and, based on this, we have a positive view on the sector,” said a report by Sharekhan. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/tcs-infosys-and-hcl-tech-can-do-better-in-a-shallow-recession-than-a-slowdown/articleshow/92214156.cms">TCS, Infosys and HCL Tech can do better in a shallow recession than a slowdown</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/top-10-valuable-brands-in-india-in-2022/articleshow/92219162.cms">Tata Group is once again the biggest brand in India — check out others in top 10</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/asus-story-from-nobody-knows-you-sell-laptops-to-the-third-largest-laptop-maker-in-india/articleshow/92220613.cms">INTERVIEW: From ‘nobody knows you sell laptops’ to the third largest laptop maker in India — the Asus India story</a>

These sectors are ripe for ‘value buying’ even in a bear market say experts

Dun & Bradstreet releases its 'India's Top 500 Companies 2021’ list

<ul><li>The stocks of <keyword id="6357549" type="UNKNOWN" weightage="20" keywordseo="Indian-IT-companies">Indian IT companies</keyword> from Tata Consultancy Services (TCS) to Mindtree are on fire as the rest of the market struggles against the uncertainty brought on by the second COVID-19 wave.</li><li>The rally comes ahead of these companies getting ready to post their earnings next week and the street expecting robust numbers.</li><li>Analysts believe that the deal momentum will carry IT companies through, not just the coming quarters, but the next two to three years.</li></ul>The second wave of COVID-19 may be bad news for many sectors of the Indian economy, but not for information technology (IT) companies like Tata Consultancy Services (TCS), Infosys, Wipro and Mindtree. The shares of Indian IT firms, big and small, have been rallying this past week in anticipation of blockbuster earnings, while the overall market remained volatile. Since April 1, <keyword id="6354813" type="COMPANY" weightage="20" keywordseo="Nifty">Nifty</keyword> IT has risen by 3.27% and the past week alone has brought in gains of 1.3%. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in share price on April 7 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MindTree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CoForge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.65% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.90% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.23% </td></tr></tbody></table>Source: NSE “The fourth quarter is traditionally a soft quarter for IT companies, but this time around the street’s expectations are very strong,” Sanjiv Hota, vice president and head of research at Sharekhan told Business Insider India. That being said, some players are doing better than others on the stock market. More than just the quarterly results, analysts believe that the inflow of demand due to the pandemic is also firming up the earnings of companies like TCS, HCL Technologies, Infosys and Wipro in the longer run. “A big shift that is happening. Earning visibility for the IT sector over the next two to three years is getting very strong,” Hota explained. <div type="image" title="IT stocks" msid="81961824" hostid="261" caption="&amp;lt;p&amp;gt;The rise of Nifty IT since January&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Greenback’s strength is only a temporary factor" comment="subhead" text="Greenback’s strength is only a temporary factor">Greenback’s strength is only a temporary factor</cmsannotation> The depreciating rupee, which softened to a <a href="https://www.moneycontrol.com/news/business/markets/rupee-opens-lower-at-73-55-per-dollar-6737851.html">two-week low</a> on April 7 after the <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) announced that India’s monetary policy will continue to support liquidity, is only a temporary movement. “Depreciating rupee is always good for IT companies. In the last three quarters, offshore proportion has increased,” said Urmil Shah, the vice president of institutional equities at IDBI Capital. Overall, IT stocks are more fundamental in nature. “The results are expected to be particularly good with the increase in demand and second wave of COVID-19,” Harit Shah, a senior research analyst at KRChoksey told Business Insider, explaining how the market closed in the red on Monday, April 5, but IT stocks were among the top gainers. The pandemic sped up demand from clients as more businesses looked to digital solutions to help employees work from home and keep in touch with their customers in a contact-less way. What started in the first quarter is going to come to fruition between January and March. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/osiris-exoplanet-was-formed-at-least-a-100-times-farther-away-from-its-sun-than-where-it-is-now-and-has-six-chemicals-in-its-atmosphere-to-prove-it/articleshow/81953394.cms">The first-ever exoplanet discovered was born at least a 100 times farther away from its Sun than where it is now — and has six chemicals in its atmosphere to prove it</a> <a href="https://www.businessinsider.in/stock-market/news/macrotech-developers-ipo-formerly-known-as-lodha-developers-faces-high-debt-and-covid-scare/articleshow/81948568.cms">Macrotech Developers’ IPO has low home loan interest rate playing in its favour — but high debt and COVID-19 pandemic cloud its prospects</a>

You Searched For "coforge" and got 11 results

Slowdown hasn’t affected deal wins yet but seeing softness in long-term deals: TCS

Katya Naidu

Sensex, Nifty50 end higher led by gains in IT, pharma and FMCG stocks

Rounak

Bhakti

Indian markets open in the green – RIL, M&M gain while Nifty IT, Infosys decline

Rounak Jain

Accenture’s disappointing Q1 and FY23 forecasts indicate more pain for the IT sector

Bhakti Makwana

TCS tumbles and drags down to Wipro, Infosys, Tech Mahindra and LTTS with poor earnings

Bhakti Makwana

US-based peer Accenture’s uptick in FY22 outlook gives hopes to IT firms in India; Infosys, Wipro, TCS gain

Bhakti Makwana

TCS, Infosys, L&T triplets tank on US troubles — wiping $10 billion off tech wealth

Rounak Jain

These sectors are ripe for ‘value buying’ even in a bear market say experts

Bhakti Makwana

Dun & Bradstreet releases its 'India's Top 500 Companies 2021’ list

BI India Partner

The tech stocks binge is hotting up again with the second wave of COVID-19

Prabhjote Gill

Happiest Minds is a smaller company that does the same thing as MindTree and L&T Infotech — but clearly it is doing it a lot better

Prabhjote Gill