Mumbai, April 11: The markets are playing a guessing game on Bangalore-based Infosys continuing with its annual sales guidance when it announces its fourth-quarter results tomorrow.

The IT bellwether had stopped giving quarterly guidances from the second quarter of 2012-13. A few analysts feel the company may also stop annual forecasts because of global uncertainties.

While brokerages such as JP Morgan and Kotak Securites have raised such a possibility, many feel the company may continue to give its dollar revenue guidance.

There could be a knee-jerk reaction in the equity markets if Infosys withdraws the forecast.

“Our stance on the company does not fundamentally change should Infosys break with its tradition of guidance. It may create a one-time stock impact because of a section of the market disapproving of this, but investors/Infosys can move on thereafter,” Amit Sharma and Viju George of JP Morgan said in a recent report.

Among the listed IT companies, Tata Consultancy Services and HCL Technologies also do not provide any revenue guidance.

“There is a possibility that Infosys may stop giving the annual revenue guidance. This may be taken negatively by the market and investors will interpret it to mean that the emerging picture remains hazy,” an analyst with a domestic brokerage said.

He, however, added that if Infosys continued the practice, the dollar revenue guidance could be 9-12 per cent.

For 2012-13, Infosys had given a sales forecast of $7.45 billion, a growth of 6.6 per cent from the preceding year.

“If it gives an annual guidance for 2013-14, we expect the same to be muted. The management has been consistent in cautioning that uncertainty persists in the developed economies,” Dipen Saha of Kotak Securities noted.

After surging 4.26 per cent to Rs 2,933.30 in intra-day trade, the Infosys stock ended at Rs 2,917.85, up 3.72 per cent on the BSE.