HDFC Securities expects 2-3% USD revenue growth for Indian IT companies

HDFC Securities expects Wipro Ltd to report the weakest growth among Tier 1 peers.

Written by Reuters | Published: April 8, 2013 3:30 pm

HDFC Securities expects large cap Indian software services exporters to report 2-3 percent quarter-on-quarter USD revenue growth in the January-March period.

Currency movements would have a negative impact of 30-60 bps on USD revenues for Tier 1 IT vendors,HDFC Securities said in a note dated April 5.

HDFC expects the full impact of Lodestone acquisition will enable Infosys Ltd to report 3.8 percent q-o-q USD revenue growth.

The brokerage expects Tata Consultancy Services Ltd to report sequential USD revenue growth of 3.1 percent,while “robust” traction in infrastructure management services is likely to enable HCL Technologies Ltd grow USD revenues 2.6 percent sequentially.

HDFC Securities expects Wipro Ltd to report the weakest growth among Tier 1 peers set at 2 percent q-o-q USD revenue growth.

Infosys shares fall 1.1 percent,while TCS drops 1.2 percent and Wipro shares down 1.46 percent.

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