IT sector: After mixed March quarter results, brokerages say 'stay selective'; near-term pressure remains

Post the March quarter results, brokerages believe that the near-term outlook for the IT space is worsening and suggest investors 'stay selective'.

IT sector's weight in Nifty50 at 5-year low of 12.2%, FMCG's weight rises: Report

BS pointed out that the IT sector’s weight in the index has slipped to a five-year low of 12.2 percent, down from the 17.7 percent at the end of March 2022.

IT Sector: DART has 0 'buy' calls and 2 ‘sell’ calls among top 10 stocks; says midcaps more vulnerable

Analysing the top 10 companies in the IT space, the brokerage had zero ‘buy’ calls and only two ‘accumulate’ calls. Meanwhile, it had 5 ‘reduce’ calls and 2 ‘sell’ calls.

Ten IT stocks soared up to 25% after Q3 earnings; do you own any?

Following the strong Q3 performance, shares of Persistent Systems surged from ₹3,959 apiece to a new 52-week high of ₹4,939, generating a fabulous return of 25%. IT major Tata Consultancy Services (TCS), which kicked off the Q3 earnings season on January 09, rallied 7% to ₹3,558 apiece to date.

IT sector Q3 earnings: 3 things you must check in results before investing in stocks

<ul><li>If the company’s results excite you, and you are looking forward to investing, let’s dive deep into how the quality of earnings might affect your investment decisions.</li></ul>

Hiring slowdown lifts top IT companies' profit per employee: Report

As per the report, the top four IT companies earned a net profit of ₹1.7 lakh per employee during October-December 2022, up 8.6 percent from ₹1.57 lakh in Q2FY23.

Should you buy, sell or hold Wipro after Q3 earnings? Here's what top brokerages say

In Q3 FY23, Wipro had record order bookings of over $4.3 billion, up 26% YoY in CC terms. For the full year, the company expects revenue growth from the IT services business to be in the range of 11.5–12 percent.

Wipro Q3 net profit rises 2.8% to ₹3,053 crore; says tech spends robust amid macro uncertainties

Wipro's Q4 guidance, however, came below analysts' expectations. Wipro said its IT services revenue is expected to grow in the range of -0.6 per cent to 1 per cent sequentially in constant currency in the quarter ending March 2023.

From Paytm to Biocon: These 12 Nifty 100 stocks are the biggest wealth destroyers in 2022

Shares of One 97 communications, Paytm's parent company stood at the top of the list. The stock lost 62.6% of its value in 2022, falling from ₹1334.55 apiece to the current market price of ₹512.15. Gland Pharma, a pharmaceutical firm, was another stock that lost investors' wealth in 2022.

IT sector outlook: Valuations of companies may take a hit, says Emkay Global

Here are the key takeaways from brokerage Emkay Global Financial Services Ltd's recent meet with the managements of IT companies.

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IT sector: After mixed March quarter results, brokerages say 'stay selective'; near-term pressure remains

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