IT Stocks Outlook for the week (06 - 10.08.2012)

[rupeedesk]

IT Stocks Outlook for the week (06 - 10.08.2012)

Stocks of major information technology companies are likely to move in a narrow range next week due to lack of any sector-specific triggers. There could be some stock-specific movement in reaction to companies' Apr-Jun earnings and other corporate developments. Stocks of Satyam Computer Services are likely to rise further next week. This week, the stock ended 5% higher as the company Thursday reported better-than-expected earnings for Apr-Jun. Foreign exchange gains, higher utilisation, and cost optimisation boosted the company's net profit in the quarter 56.4% from a year ago to 3.52 bln rupees. Revenue rose 31.1% to 18.80 bln rupees. The earnings of group company Tech Mahindra, which will be released Thursday. Satyam Computer's strong earnings pushed Tech Mahindra stocks up more than 6% this week. Tata Consultancy Services and Infosys stocks have been moving sideways-to-positive. Stocks of Wipro have a different chart pattern compared with those of Infosys and Tata Consultancy.

By RUPEE DESK

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