Wipro to buy back shares worth Rs 11,000 crore

 Global software major Wipro Ltd on Thursday proposed to buy back nearly 344 million shares of Rs 2 face value for Rs 11,000 crore ($1.7 billion) at Rs 320 ($4.95) per share.

"The board of directors approved a buyback proposal for purchase of 343.75 equity shares of Rs 2 each, representing 7.06 per cent of equity capital, from the company's shareholders on a proport

NIIT Technologies Consolidated Quarterly Result net surges 79.5% at Rs 51.3 cr

NIIT Technologies today posted 79.5 per cent jump in consolidated net profit to Rs 51.3 crore for the first quarter ended June 30, 2017. NIIT's net profit stood at Rs 28.6 crore in the year-ago period, the company said in a filing to the Bombay Stock Exchange. The company's revenues increased by 5.7 per cent to Rs 708.9 crore in the said quarter from Rs 670.7 crore in the April-June per

Wipro announces up to $1.7 billion share buyback as second-quarter forecast disappoints

By Tanvi Mehta and Sankalp Phartiyal

BENGALURU/MUMBAI - Wipro Ltd, India's third-largest software services exporter, announced an up to 110 billion rupee ($1.71 billion) share buyback on Thursday, overshadowing a tepid revenue forecast that fell short of market expectations.

Bengaluru-headquartered Wipro said it expects revenue from its core IT services

Buy Tata Consultancy Services Ltd For Target Rs.2,580.00 - Reliance Se

* The stock has bounced from its long term averages with sustained positive price momentum in the past few days confirming an uptrend.

* The key technical indicator has also reversed from their lower levels and is expected to break on the upside.

* The stock has strong support on its weekly charts holding the short and medium term averages and the positive divergence in the

20/07/2017 1:30:28 PM | Posted in Broking Firm Views - Short Term Report read full news
Reduce Mindtree Ltd For Target Rs.490.00 - Emkay

Bluefin blues continue

* Q1FY18 performance was weak with a revenue growth of 1.2% qoq in CC terms. The revenue performance was affected by pricing decline of 140bps qoq largely on offshore delivery shift. Offshore volumes were up 5.2% qoq while onsite volumes were down 1.2% qoq.

* Deal win traction has been good in general but there was a de

20/07/2017 12:29:24 PM | Posted in Broking Firm Views - Long Term Report read full news
Mastek Quarterly Result cons net jumps over 6-fold at Rs 14.7 cr

Mastek, a global IT technology firm, has reported over six-fold jump in its consolidated net profit at Rs 14.7 crore for the first quarter ended June 30, 2017. “The consolidated net profit of the firm stood at Rs 2.3 crore during the same period a year ago,” said Mastek in a filing to the Bombay Stock Exchange on Wednesday. The consolidated total revenue from operations rose by 41.4

Tata Group considers restructuring tech, infra businesses: Bloomberg

India's salt-to-software Tata Group is considering a plan to streamline its technology and infrastructure businesses, Bloomberg reported on Wednesday, citing people with knowledge of the matter.

The restructuring plan would involve moving several of its technology businesses under Tata Consultancy Services Ltd, the country's top software services exporter, the report said 

Buy Infosys Ltd For Target Rs.1,116.00 - Equirus Sec

While Infosys‟ quarterly performance was emphasized by India contribution, we were particularly enthused by the disclosures on „newer services‟. Given the backdrop of lack of precise definition, comprehending standalone Digital revenue contribution was a futile exercise. However, that could change with Infosys reporting contribution of „newer‟ services non-existent before 2015

19/07/2017 11:20:40 AM | Posted in Broking Firm Views - Long Term Report read full news
Matrimony.Com, Shalby Hospitals get Sebis nod for IPOs

Matrimony.Com and Shalby Hospitals have received markets regulator Sebi's approval to float initial public offerings, reported PTI. With this, the total number of firms that have received the regulator's approval to launch initial share-sale offers in this year reached to 21. Matrimony.Com, which runs online match making business under BharatMatrimony brand, and multi-speciality hospita

Wipro extends gain on share buyback plan

Shares of Wipro continued gaining streak on Tuesday and rose nearly 2 per cent on the Bombay stock Exchange after the country’s third largest software exporter said that its board would consider a proposal for buyback of equity shares of the Company on July 20, 2017.

“A meeting of the Board of Directors of the Company to be held over July 19-20, 2017, to consider a proposa

Reduce Tata Consultancy Services Ltd For Target Rs.2,434.00 - Equirus Sec

1QFY18 earnings were a mixed bag with in-line revenues but miss on the margins. CC revenues grew 2% qoq as healthy volume growth (3.5%) was offset by drop in price realisations (1.5%). Interestingly, despite a decent start to FY18E (2% CQGR in the rest of FY18E translates to 7.5% yoy growth), commentary was tepid driven by lack of visibility in BFSI and Retail. Management alluded that though BF

18/07/2017 2:45:47 PM | Posted in Broking Firm Views - Long Term Report read full news
Reduce Tata Consultancy Services Ltd For Target Rs.2,240.00 - Reliance Se

Revenue in Line, But Margins at 9-Year Low

Tata Consultancy Services has delivered largely an in-line performance in 1QFY18 with its USD revenue growing by 3.1% QoQ (+2% QoQ in CC terms). While volume grew by 3.5% QoQ, CC pricing declined by 1.5% QoQ. EBIT margin declined steeply by 236bps QoQ, which was well below our estimate by 74bps, which led net

18/07/2017 2:17:17 PM | Posted in Broking Firm Views - Long Term Report read full news
Wipro jumps over 5% on share buyback plan

Shares of Wipro surged over 5 per cent on the Bombay stock Exchange after IT major said that its board would consider a proposal for buyback of equity shares of the Company on July 20, 2017. “A meeting of the Board of Directors of the Company to be held over July 19-20, 2017, to consider a proposal for buyback of equity shares of the company on July 20, 2017,” Wipro said in a filing

Hold Infosys Ltd For Target Rs.1,050.00 - Sharekhan

Key points

* Good Quarter:

Infosys reported higher-thanexpected earnings for Q1FY18 after posting lackluster performances in the past consecutive quarters. For Q1FY18, constant currency (CC) revenue up by 2.7% on a sequential basis and 3.2% on reported basis to $2651 mn, led by volume growth of 1.7% coupled w

17/07/2017 11:55:02 AM | Posted in Broking Firm Views - Long Term Report read full news
We maintain our BUY rating on Infosys Ltd - Angel Broking

Below is the view On Infosys Limited 1QFY2018 Results by Ms. Sarabjit Kour Nangra (VP Research- IT, Angel Broking):

Infosys (CMP: INR 976 / TP: INR 1,179/Upside: 20.8%)

“Infosys posted better than expected results mainly driven by better than expected volume growth during the quarter. On sales front, the compa

Infosys shares up 1% on revenue growth outlook

Shares of Infosys rose over 1 per cent on the Bombay stock Exchange after IT major reported a 3.3 per cent year-on-year drop in net profit at Rs 3,483 crore for the first quarter ended June 30, 2017. Revenue for the quarter dropped 0.2 per cent to Rs 17,078 crore compared with Rs 17,120 crore in the corresponding quarter of last year. The company, however, continued to maintain its constant cur

Hold Infosys Ltd For Target Rs.980.00 - Emkay

Sustainability of pricing holds the key

* Q1FY18 performance by Infosys Ltd was better-than-expected on reported basis, driven by strong pricing gains of 130bps that led to revenue beating expectations. The management commentary is cautiously optimistic across verticals. The company claims it is winning market share and expects uptick in demand in BFSI

15/07/2017 12:22:13 PM | Posted in Broking Firm Views - Long Term Report read full news
Hold Tata Consultancy Services Ltd For Target Rs.2,450.00 - Sharekhan

Key points

* Revenues performance inline, margins below estimates:

For the quarter TCS has delivered a inline revenue performance, while operating margins missed the mark. Topline up by 3.1% on reported basis to $4591 mn, led by 3.5% volume growth and cross currency tailwinds of 1.1%, on a constant currency b

15/07/2017 10:28:31 AM | Posted in Broking Firm Views - Long Term Report read full news
Neutral Tata Consultancy Services Ltd For Target Rs.2,416.00 - Arihant Capital

Strong volume growth of 3.5% qoq but a decline in earnings of 10% qoq:

TCS has delivered a strong topline performance with 3.5% qoq volume growth, driven by sustained traction in the Digital service offerings. The growth in focus geographies was encouraging across verticals with a cautiously optimistic approach towards Insurance and Retail. Focus shift

15/07/2017 10:06:28 AM | Posted in Broking Firm Views - Long Term Report read full news
Reduce Cyient Ltd For Target Rs.521.30 - Kotak Sec

Cyients 1QFY18 revenue declined 0.24% QoQ to USD140.65mn v/s our estimates of USD142.7mn. Services business reported good growth of 3.1% sequentially whereas DLM business disappointed with a sharp decline of 26% sequentially. Growth within service business was led by communication, semiconductor and transportation growing at 10%, 11% and 11.7% respectively. We expect traction to continue in com

15/07/2017 9:59:34 AM | Posted in Broking Firm Views - Long Term Report read full news
Interview: TCS sees big opportunity in manufacturing, life sciences

By Sankalp Phartiyal and Euan Rocha

MUMBAI-  India's top IT services company Tata Consultancy Services Ltd (TCS) is moving to capitalize on growth opportunities in areas such as life sciences and manufacturing, Chief Executive Rajesh Gopinathan said on Friday.

With IT spending in the core banking, financial services and insurance (BFSI) segment subd

Neutral Tata Consultancy Services Ltd For Target Rs.2,350.00 - Motilal Oswal

Missing revenue traction weighs on profitability too

* Growth missing large-segment traction: TCS’ 6.3% YoY CC growth in 1QFY18 was marginally below our estimate of 6.9%. YoY CC growth in larger revenue contributors remained soft – BFSI (5%), Retail (-3%), North America (3.5%) and the UK (6%). This, in our view, implies ele

14/07/2017 3:50:22 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Cyient Ltd For Target Rs.600.00 - Motilal Oswal

Broad-based traction dragged by DLM

Services growth robust

* Performance dragged by DLM: Rangsons (DLM) dragged 1QFY18 performance vis-à-vis expectations on both revenues (3% impact) and margins (60bp impact) front. Having started the year at USD12m, CYL maintained DLM outlook of 20% growth, citing h

14/07/2017 3:35:33 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Infosys Ltd For Target Rs.1,200.00 - Motilal Oswal

* In CC terms, our revenue growth estimate for 1QFY18 is 2.2% QoQ on the back of gradual recovery in BFSI, offset by continued pressure in Retail. Cross-currency tailwinds of 80bp would result in USD revenue growth of 3%.

* At the end of 4QFY17, INFO guided for 6.5-8.5% YoY CC growth, implying a CQGR of 2.2-3%. FY17 guidance would be tested by 1Q revenue growth.

* We expect

14/07/2017 3:14:57 PM | Posted in Broking Firm Views - Long Term Report read full news
Reduce Tata Consultancy Services Ltd For Target Rs.2,320.00 - Emkay

Pains percolate to profitability

* Q1FY18 performance was better on revenue front, driven by strong volume growth of 3.5% qoq. The growth in focus geographies was encouraging across verticals with a cautiously optimistic approach towards Insurance and Retail.

* TCS is gaining significantly on competencies across Digital service offerings, lea

14/07/2017 2:57:26 PM | Posted in Broking Firm Views - Long Term Report read full news