MindTree jumps nearly 4% as board approves buyback of shares

Shares of MindTree rose nearly 4 per cent on the Bombay stock Exchange after the IT services company said that its board has approved the proposal to buyback the fully paid-up equity shares of the company worth Rs 270 crore. Following the announcement, shares of the company gained as much as 3.74 per cent to hit intra-day high of Rs 551.10 apiece on the Bombay Stock Exchange.

The scri

Buy Wipro Ltd For Target Rs.284.00 - Reliance Se

* Wipro Ltd consolidated around its lower band of the rising channel after witnessing sharp decline from its multi month high of Rs284.

* Due to recent consolidation in the price, key technical indicator-RSI reversed from its bull market support zone (i.e.40-33) and given positive cross-over.

* As per the current daily set-up, we believe that stock is on the verge of turnaro

29/06/2017 11:58:54 AM | Posted in Broking Firm Views - Short Term Report read full news
IT Sector Update Q1 unlikey to assuage investor concerns on demand - ICICI Sec

Q1 unlikey to assuage investor concerns on demand

* Expect revenue growth in Q1FY18 to be softer relative to typical strong seasonality. We expect Q1FY18 to be another quarter where demand trends will be on the softer side of seasonality with each company witnessing near-term challenges in different sectors and verticals. TCS is seeing

29/06/2017 9:39:40 AM | Posted in Broking Firm Views - Sector Report read full news
Wipro touts U.S. jobs amid visa uncertainty

MUMBAI - Wipro Ltd, India's third-largest software services exporter, said on Wednesday that more than half its workforce in the United States consists of locals after it hired more than 1,600 people in the last six months.

The statement comes as U.S. President Donald Trump has asked federal agencies to review a visa program that Indian IT firms such as Wipro use to fly engineers

MindTree board approves Rs 270 cr share buyback

IT and outsourcing company Mindtree on Wednesday said that its board has approved the proposal to buyback the fully paid-up equity shares of the company worth Rs 270 crore. “The board of directors of the company at its meeting on June 28, 2017, approved buyback proposal for purchase by the company of its own fully paid equity shares of Rs 10 each not exceeding 43.20 lakh equity shares, be

Reduce Mphasis Ltd For Target Rs.545.00 - Emkay

Downgrade to REDUCE

* Mphasis’s Mar’17 quarter revenue performance remained below par yet again driven by challenges at Digital Risk while margins continue to benefit from favourable hedging policy

* Company expects to target growth with DXC (over and above the minimum revenue commitment as part of the HPE MSA) post the new arrang

28/06/2017 3:05:55 PM | Posted in Broking Firm Views - Long Term Report read full news
TCS tech platform to power Canada`s premier exchange

Tata Consultancy Services (TCS), a leading IT services organization has said that TMX group has awarded TCS the implementation of a single, integrated technology platform for Canada's clearing and settlement businesses.

“The innovative platform, called TCS BaNCS for Market Infrastructure, will replace the legacy systems deployed by The Canadian Depository for Securities Limi

Indo-US commitment to improve IT market big positive: ASSOCHAM

ASSOCHAM today welcomed the India-US joint statement following the meeting of Prime Minister Narendra Modi with President Donald Trump, stating the mutual commitment to increasing market access in Information Technology and other sectors is a big positive for the USD 150 billion Indian software and services industry.

Among other positives, the ASSOCHAM took special note of the text in

Need to embed IT to contain and mitigate pollution: Minister

Union Minister of Environment and Science & Technology, Harsh Vardhan has made a strong pitch for embedding Information Technology into pollution control regime to enhance transparency and efficiency in efforts to contain and mitigate pollution. Addressing the inaugural session of the 62nd Conference of Chairmen & Member Secretaries of Pollution Control Boards today, the Environment Min

Rentals easing in IT hubs on subdued sentiment

With the IT sector witnessing subdued sentiment amidst pressure on hiring and annual pay rise for employees, the country’s software and services hubs such as Bengaluru, Hyderabad, Chennai, Pune and Noida-Gurgaon in NCR are expected to see a 10-20 per cent reduction in the housing rents over the next three quarters, said an ASSOCHAM paper. Unlike in the past when the fresh inflows of young

Infibeam Incorp up nearly 2% on stock split plan

Shares of Infibeam Incorporation rose nearly 2 per cent on the Bombay stock Exchange after the company said that its board would consider sub division of equity shares of the company. Boosted by the development, shares of the company gained as much as 1.97 per cent to hit intra-day high of Rs 1054.40 apiece on the Bombay Stock Exchange.

The scrip was currently trading at Rs 1036.95 ag

Buy Zensar Technologies Ltd For Target Rs.1,020.00 - Motilal Oswal

A ctive Digital-oriented transformation

Synchronizing demand, offerings, delivery and sales

We attended the RPG Group analyst meet. Key highlights of the meeting with Zensar Technologies (ZENT):

* Duality in the business…: 80% of the incremental dollars are being spent on D

26/06/2017 5:22:42 PM | Posted in Broking Firm Views - Long Term Report read full news
Subdued sentiment dampening rentals in IT hubs: Assocham

 With IT sector witnessing subdued sentiment amidst pressure on hiring and annual pay rise for employees, the country's software and services hubs such as Bengaluru, Hyderabad, Chennai, Pune and Noida-Gurgaon are expected to see 10-20 per cent reduction in housing rents over the next three quarters, an Assocham paper said here on Monday.

Unlike in the past when the fresh infl

Buy Infosys Ltd For Target Rs.1,040.00 - Reliance Se

STOCK IN FOCUS

* Infosys’ stock rose by 1.5% yesterday against a flattish close for the BSE Sensex.

* Infosys’ revenue rose by 0.7% QoQ in 4QFY17; a positive factor was the healthy 4.1% QoQ growth in the ECS vertical, with Comminucations & Services growing nearly 10% QoQ and accounting for nearly 10% of revenue, the highest pr

26/06/2017 10:12:35 AM | Posted in Broking Firm Views - Short Term Report read full news
Infosys says reassessing long-term goals due to tougher market

Infosys Ltd, India's second-biggest software services exporter, is re-evaluating its long-term targets because tougher market conditions have made them appear "daunting", the company's chairman said on Saturday.

Infosys Chief Executive Officer Vishal Sikka had said earlier that the IT services company was likely to struggle to reach its ambitious $20 billion revenue

Infosys investors blast board over infighting with founders

Infosys' boardroom battles and the "open war" played out in the media between the board members and its founders since February came to the fore at the firm's 36th Annual General Meeting (AGM) on Saturday.

Several retail investors blasted the board for the "infighting" that damaged the company's reputation and its brand equity the world over, especially

Infosys Board has no rift with founders, says Chairman

Terming media reports on a "rift" between the Infosys Board and its Founders on governance and compensation to executives inaccurate, software major's Executive Chairman R. Seshasayee on Saturday claimed that the relationship between the two was cordial, direct and respectful.

"I should note that the Board's relationship with the Founders is often the subject of

Infosys embarks on transformation journey to secure future: Seshasayee

Global software major Infosys Ltd has embarked on a three-pronged transformation journey for a sustainable and secure future, said its Board Chairman R. Seshasayee on Saturday at the company's 36th Annual General Meeting (AGM) here.

"We are undertaking three transformations simultaneously for a sustainable and secure future for your company. The first is business transformati

Infosys co-founders keep away from stormy AGM

For the first time in many years, Infosys' co-founders, including N.R. Narayana Murthy kept away from its Annual General Meeting as the 36th AGM for 2016-17 was held here on Saturday.

"None of the founders or promoters was seen at the AGM, even a hour after it began at 3 p.m. We have no idea why they did not turn up," a company spokesman told IANS.

About 1,000

Nasscom identifies key job roles in big data analytics

 The National Association of Software and Services Companies (Nasscom), as part of its reskilling initiative for the IT industry, has identified key job roles in the big data analytics domain.

At the fifth annual Big Data & Analytics Summit, which concluded here on Friday, the industry body identified six areas of specialisation in the big data analytics domain.

Bus

TCS hired over 12,500 US employees over five years: Study

 Global IT services, consulting and business solutions organisation Tata Consultancy Services (TCS) was among the top two job creators, recruiting more than 12,500 US employees from 2012-2016, a recent study by The Cambridge Group said.

TCS ranked number one in terms of US employee growth during that period, the study said, according to a release issued by TCS. The Chicago-based

Infosys says internal investigation found no evidence of wrongdoing

By Promit Mukherjee

MUMBAI - An internal investigation by India's Infosys into alleged improprieties related to two acquisitions by the IT services company found no evidence of wrongdoing, it said on Friday.

The findings, released in a statement a day before the company's annual shareholder meeting, may quell some of the investor disquiet that has bu

IT export growth projection is realistic, reasonable: Experts

The projection by Nasscom that Indian IT exports would grow 7-8 per cent in the current fiscal is realistic and reasonable and reflects the current global business environment, say senior figures in the sector according to PTI.

The numbers put out by the industry body are very realistic because the global IT spending is not going up this year and there are political uncertainties in t

IT Sector Update Accenture tightens revenue growth guidance band - Kotak Sec

Accenture—tightens revenue growth guidance band.

Accenture reported c/c revenue growth of 7% for May 2017 (3QFY17) quarter, at the upper-end of guidance band. However, the company tightened FY2017 revenue growth guidance band to 6-7% from 6-8% earlier with the tightening capturing slower-than-expected initiation of new projects due to continued u

23/06/2017 1:50:51 PM | Posted in Broking Firm Views - Sector Report read full news
Mindtree soars nearly 3% on share buyback plan

Shares of Mindtree rose nearly 3 per cent on the Bombay stock Exchange after IT services and outsourcing company said that its board would consider a share buyback proposal in meeting on June 28, 2017.

“A meeting of the board of directors of the company will be held on June 28, 2017 to consider the proposal to buyback the fully paid-up equity shares of the Company,” MindTr