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Market move▲ Bullish for Coforge
IT stocks rally up to 5% ahead of Accenture results despite Kotak’s muted Q2 outlook
The brief
- Coforge, Mphasis, TCS and Persistent Systems gained up to 5%
- Kotak expects muted Q2 growth and stable margins, with operating metrics showing increasing pressure
- The rally lifts Indian IT services stocks, while muted growth expectations temper the outlook for sector earnings
Indian IT firms' Q2 FY27 outlook
Infosys has guided for FY27 constant-currency revenue growth of 1.5%-3.0%, while brokerages see scope to narrow the range. Citi and Kotak expect near-term weakness and muted Q2 results for large IT firms, with margins a key focus and demand conditions largely unchanged from June.
Wednesday, 30 September
- IT stocks rally up to 5% ahead of Accenture results despite Kotak’s muted Q2 outlook