MINDTREE DEAL WINS
IT midcap firms find a seat at larger deal tables in slump
IT midcap companies such as LTIMindtree and Persistent Systems said they are increasingly getting an opportunity to bid for bigger deals due to their strong execution. This was only open to large caps in the past. Experts said that while sectors like BFSI and hitech are down currently, there is good demand from healthcare and life sciences, manufacturing, and ER&D where the mid-tier companies have a good play.
IT stocks' rally overdone, says Jefferies; Infosys among 3 top picks
Jefferies has taken a 'Hold' view on Tata Consultancy Services (TCS), HCL Technologies and LTI MIndTree while an 'Underperform' stance on Wipro and Tech Mahindra. Jefferies' estimates on the IT sector hinge upon the takeaways from its conversations with managements of seven domestic IT firms who have acknowledged that the demand uncertainty will linger, going forward.
Manik Taneja on how Tech M will fare? What to expect from IT cos in H2
Axis Capital's Manik Taneja says that tier-1 tech companies have managed to maintain margins well, with some deferring wage implements. However, growth has been modest and below expectations for most companies in the IT sector. Taneja does not expect significant positive surprises in Tech Mahindra's upcoming earnings report and believes that the company's margins may not show a significant uplift. Axis Capital has a negative view on the sector overall, with Tech Mahindra being the only positive-rated stock among tier-1 companies.
LTIMindtree Q2 results: Net profit down 2% on hikes, muted growth
Revenue came in at Rs 8,905.4 crore, up 8.2% year on year, which beat estimates. The company created from the merger of erstwhile Larsen and Toubro Infotech and Mindtree Technologies started operating as a merged entity in December 2022.
We expect normalization in IT sector from Q3, Q4 onwards: Apurva Prasad
" If I have to name a few stocks within the tier ones, within the largecaps an LTI and MindTree, there is certainly an opportunity. If I look in midcap, mid-tier IT, then Persistent Systems and within the smallcap space, Birla Software. These would be some things where there is a good opportunity. Broadly, the mid-tier IT growth outperformance over tier one can continue. "
LTIMindtree CEO Debashis Chatterjee says deal delays consistent across all business sectors
India’s sixth largest IT firm said it was witnessing delayed decision making and hiring freeze from clients’ side despite a “robust” deal pipeline.
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5 stocks Vibhor Singhal is bullish on from IT sector
The deals are getting awarded, but the companies are not confident as to when the execution is going to start. So how much revenue is going to flow in the, let us say FY24 bucket or is going to spill over into the FY25 bucket, that is something which is that we are very uncertain about.
Market to consolidate until the end of December: Siddhartha Khemka
“Larger IT deals are generally awarded to companies with a larger size and so LTI-MindTree combine will now be eligible to bid for even larger deals and that should be positive for the company. It will put some pressure on some of the existing players. Wipro has been lagging in terms of growth compared to peers while HCL Tech has been focussing on a different segment and is trying to improve growth.”
Downturn: Indian IT firms brace for a chilling winter this year
Though India’s top software services providers reported better-than-expected numbers last week, there are dark clouds on the horizon as an energy crisis in Europe and rising inflation in the United States threaten to disrupt the macroeconomic situation.
North Korea’s crypto-nukes & this week's top tech stories
Years of crippling economic sanctions and pressure from governments in the neighbourhood (mainly China) have forced North Korea to come up with creative ways to bypass these economic punishments.
Clients eyeing more cost takeout deals: Mindtree CEO
Debashis Chatterjee, CEO Mindtree, talked to ET about clients prioritizing on saving costs amid surging energy prices and the company's upcoming merger with L&T Infotech
Mindtree shares rise over 4% on Q2 results
Both its top line and bottom line were above the ET Now poll estimates of Rs 3,320 crore and Rs. 476 crore, respectively.
Infosys net profit jumps 11% YoY in Q2; DoT to regulate OTT comms players only
Infosys, India's second-largest IT services company, wrapped up earnings week for the sector on Thursday, reporting a 23.4% year-on-year jump in consolidated revenue to Rs 36,538 crore and an 11% rise in net profit to Rs 6,021 crore. CEO Salil Parekh also weighed in on the moonlighting issue, saying Infosys was not in favour of employees taking up second jobs.
Mindtree Q2 Results: Profit jumps 28% YoY to Rs 509 cr; beats St estimates
Both the topline and bottomline were above ET Now poll of estimates of Rs 3,320 crore and Rs. 476 crore, respectively.
Rs 9,000 crore selloff! Should you follow FIIs in dumping IT stocks?
Analysts say the IT sector is expected to post reasonably strong Q2 topline performance with minimal adverse impact from the current volatile environment. However, margins may remain a mixed bag due to continued supply-side pressure with elevated attrition and individual impact from wage hikes.
IT cos seen logging steady sequential growth in Q2; all eyes on demand outlook
Brokerage reports and analysts' notes on Q2 earnings preview anticipate reasonably strong growth quarter for Indian IT firms despite challenging macroeconomic scenario in the US and Europe, but there are fair bit of warnings around "incremental pockets of weakness" or "slowdown in coming quarters".
IT companies brace for muted growth, sustained margin pains in Q2
Analysts will look for any impact due to cross-currency movement, especially due to a weaker European currency against the dollar, margin outlook and changes in employee costs, hiring metrics, revenue growth of top clients, pricing and deal momentum swings.
Dip in tech deal value signals demand drop from Covid highs
TCS reported a dip in April-June deal Total Contract Value (TCV) at $8.2 billion, down 27% sequentially and up just 1% on-year even though its management reiterated that demand remained strong.
Clients not stopping discretionary spends: Mindtree’s Chatterjee
“The way we look at the macro environment is by talking to the clients in our portfolio… and, speaking to them, I still feel the overall sentiment is quite bullish,” chief executive Debashis Chatterjee said, adding that clients have not halted discretionary spends.
L&T Infotech’s Q1FY23 net income rises 27.7% on strong demand
L&T Infotech’s revenue grew 30.6% to Rs 4,522.8. crore in-line with analyst estimates. On a sequential basis net income dipped by 0.5% and revenue grew 5%. Attrition was marginally down at 23.8% compared to 24% last quarter.
Mindtree CEO answers questions on growth, margins and merger concerns
“We are very confident of H1 and we are cautiously optimistic as far as the H2 is concerned but I do not think there is any immediate significant red flag at this point of time. So overall we feel that we should continue on the trajectory of profitable growth as we have always been calling out. ”
Mindtree beats estimates in Q1. Should you bet on this beaten-down IT stock?
The IT major reported a 37.3 per cent year-on-year (YoY) rise in profit after tax (PAT) at Rs 471.60 crore compared with Rs 343.40 crore in the same quarter last year. Revenue for the quarter rose 36.2 per cent YoY to Rs 3,121.10 crore compared with Rs 2,291.70 crore in the corresponding quarter last year.
Mindtree net zooms 37% in Q1 on travel, tourism vertical recovery
An ET poll of analysts had forecast a 35.1% increase in net profit and a 34% rise in revenue. The attrition rate for the quarter rose to 24.5% from 23.8% in the previous quarter due to the overall talent crunch being faced by the IT industry. Analysts said Mindtree's operating margins and recorddeal wins surpassed expectations.
Mindtree Q1 preview: Profit likely to surge over 35% YoY; margin may fall on sequential basis
Prabhudas Lilladher said June is a seasonally strong quarter for deals on account of renewals. It expects total contract value (TCV) in the June quarter to be in-line with last year's quarter. It is anticipating a 4 per cent sequential growth in dollar revenue and a 5 per cent QoQ growth in revenue in constant currency terms.
LTI-Mindtree merger has many benefits once the minds meet
The future trend depends upon the demand traction and the availability of talent pool. Given these factors, investors may expect short term challenges pertaining to integration of the two companies, which will also affect their stock performance.
LTI, Mindtree boards may meet next week to okay merger
Parent Larsen & Toubro (L&T) owns 74.05% of LTI and 60.99% of Mindtree. LTI is trading at a 30% premium to Mindtree.
Mindtree CEO addresses buzz on merger with L&T, sustaining margins & more
“We have always acknowledged that there is a lot of synergy and even for winning specific deals, we have always gone together and addressed clients' issues. We have been working with L&T Infotech in terms of specific opportunities, large deals whenever it is appropriate. But otherwise, we operate as independent entities.”
For India’s midsized IT firms, freshers are key to winning the talent war
L&T Infotech and Persistent Systems as well as Mindtree and Coforge are working on their branding to attract freshers and win lateral hires from the likes of Tata Consultancy Services (TCS), Infosys and Wipro.
Mindtree Q1 results: Net profit rises 8% QoQ to Rs 343 cr, beats estimates; firm sees record deal wins
The company’s consolidated revenues in the quarter grew 8.6 per cent sequentially to Rs 2,291.7 crore for the reported quarter, slightly ahead of analysts’ expectations.
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