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IT sector expected to lift results gloom

Strong deal pipeline and an upward revision of revenue guidance for the year
Analysts at Kotak said that the deal pipeline looked robust and that Infosys can up its guidance for the third quarter even as Wipro is expected to resume quarterly guidance.
Analysts at Kotak said that the deal pipeline looked robust and that Infosys can up its guidance for the third quarter even as Wipro is expected to resume quarterly guidance.
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Our Special Correspondent   |   Mumbai   |   Published 06.10.20, 03:16 AM

The IT sector is expected to be one of the few shining stars as corporate India heads for another results season. Buoyed by an uptick in spending as work from home continues to remain the norm, technology firms are set to report a robust quarter marked by a strong deal pipeline and an upward revision of revenue guidance for the year.

Tata Consultancy Services (TCS) will be the first off the block as it will announce the July-September 2020 numbers on Wednesday. It will be followed by Infosys on October 14.

“We expect companies to announce their highest order books in history, substantial revenue acceleration, modest margin expansion and a massive outlook upgrade,” Sandip Agarwal and Pranav Kshatriya of Edelweiss said in a note.

Analysts at Kotak said that the deal pipeline looked robust and that Infosys can up its guidance for the third quarter even as Wipro is expected to resume quarterly guidance.

“We remain positive on the sector to reach pre-Covid revenue by the third quarter of 2020-21,” a note from HDFC Securities said. 



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