India's HCLTech rises ahead of Q3 results

L&T Technology Services

12/01/2024 05:53

** Shares of India's No. 3 software-services exporter
HCLTech  HCLT.NS  trade 2.9% higher ahead of Q3 results
    ** Analysts on avg expect profit to rise 1.3% and rev to
rise 5.2% y/y, per LSEG, vs ~10% rise in Q2 net profit and 8%
rev growth
     ** Kotak analysts expect rev growth of 5.9% QoQ led by ramp
up of $2.1 bln Verizon deal, seasonal uptick in products
business
    ** TCS reported slowest profit growth since 2020 and Infosys
 INFY.NS  missed Q3 profit estimates on Thursday
    ** Investors to watch for comments on demand environment,
margin guidance, order booking trends and client spending trends
in key financial services vertical - Axis Capital
    ** Analysts' avg rating on HCLT, peers TCS and Wipro
 WIPR.NS  at "hold" - LSEG
    ** Infosys only "buy"-rated stock and L&T Tech  LTEH.NS 
only "sell"-rated stock on 10-member IT index  .NIFTYIT  - LSEG
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))