Page 8 - It Sector
Accenture's strong Q1FY21 results make analysts bullish on Indian IT stocks
With the global IT behemoth reporting sharp uptick in outsourcing business, and broad-based recovery across verticals and markets, here is how analysts read through the numbers
 "Accenture's strong Q1FY21 results make analysts bullish on Indian IT stocks")
Indian talent to attain global fame in space sector as it did in IT: Modi
The prime minister spoke of the space sector's significance in communication and navigation and told the participants that they will be co-passengers with ISRO in this age of space research
 "Indian talent to attain global fame in space sector as it did in IT: Modi")
IT sector likely to get a booster shot as firms plan to spend more
IT spending is expected to get a further boost as a majority of the clients would reprioritise spending to strengthen digital capabilities
 "IT sector likely to get a booster shot as firms plan to spend more")
Domestic firms have an edge in BSNL's contentious 4G-network tender
The move is significant because it will permit only large Indian companies, with financial muscle especially in the IT space
 "Domestic firms have an edge in BSNL's contentious 4G-network tender")
Faqir Chand Kohli: All you should know about the 'Father of Indian IT '
Kohli was the founding chief executive of sector leader TCS and pioneered the country's 'Technology Revolution' which helped India build its USD 100 billion IT industry
 "Faqir Chand Kohli: All you should know about the 'Father of Indian IT '")
F C Kohli, the man who made Indian IT go places, passes away at 96
Kohli believed that though the software industry will continue to do well, it is the local language computing that needs attention
Technology will help us vaccinate large population in short time: PM Modi
PM Narendra Modi told India Inc that the country is uniquely positioned to leap ahead in the information era
 "Technology will help us vaccinate large population in short time: PM Modi")
Play markets for medium-term, diversify across asset classes: Amit Khurana
IT Services has been the biggest beneficiary of Covid-19 pandemic and is now a mainstream growth driver rather than a one-off line item
 "Play markets for medium-term, diversify across asset classes: Amit Khurana")
'We want to take IT investments beyond Bengaluru': Karnataka Dy CM
We expect that the Karnataka would export IT services and products worth $300 billion over the next five years, says Dr Narayana
 "'We want to take IT investments beyond Bengaluru': Karnataka Dy CM")
Rules to facilitiate work from anywhere for IT-BPM sector long term: Execs
The relaxation in rules to facilitate 'Work From Anywhere' for the Indian IT-BPM sector is "long term, progressive thinking" by the government, according to industry executives.
 "Rules to facilitiate work from anywhere for IT-BPM sector long term: Execs")
US election: Joe Biden victory could lift IT sector's spirits, say experts
Experts are of the view that Biden winning could mean slightly easier immigration, and less restriction on H1B visa norms
 "US election: Joe Biden victory could lift IT sector's spirits, say experts")
If all's well, Hyderabad IT sector expected to grow at 10% in FY21: Report
Despite slowdown due to Covid-19, Hyderabad's IT sector is expected to grow around 10% during the current financial year, a whitepaper by Hyderabad Software Enterprises Association (HYSEA) said
 "If all's well, Hyderabad IT sector expected to grow at 10% in FY21: Report")
Credit Suisse cuts stance on IT, healthcare; turns bullish on banks
In June, the brokerage had turned bullish on IT citing low P/E
 "Credit Suisse cuts stance on IT, healthcare; turns bullish on banks")
IBM reports revenue declines for three straight quarters; shares fall 2.7%
Reporting sales declines for three straight quarters, IBM has posted $17.6 billion in revenue in the third quarter of this year, compared to $18 billion for the same period last year.
 "IBM reports revenue declines for three straight quarters; shares fall 2.7%")
Infosys Q2 preview: Large deal wins to drive revenue growth, say analysts
Edelweiss Securities expects revenue to grow 3.9 per cent QoQ in constant currency terms and 5.4 per cent QoQ in US dollar terms.
 "Infosys Q2 preview: Large deal wins to drive revenue growth, say analysts")
Wipro Q2 preview: CEO's strategy to revive growth, Q3 growth guidance eyed
Key focus areas include commentary on verticals such as healthcare and retail and an update from the new management on the company's growth strategy.
 "Wipro Q2 preview: CEO's strategy to revive growth, Q3 growth guidance eyed")
Trump imposes curbs on H-1B visas to protect US workers ahead of election
Trump administration announced new restrictions on H-1B nonimmigrant visa programme which it said is aimed at protecting American workers
 "Trump imposes curbs on H-1B visas to protect US workers ahead of election")
TCS makes buyback buzz but other Indian IT firms unlikely to follow suit
Buyback tax provision and steep valuations may deter companies still playing safe in the coronavirus pandemic, say analysts
 "TCS makes buyback buzz but other Indian IT firms unlikely to follow suit")
IT Q2 preview: Strong deal flow, traction in digital tech to drive earnings
According to ICICI Securities, Tier-1 IT companies will see revenue growth in the range of 1- 3.5 per cent in constant currency terms on a sequential basis.
IT stocks: Double-digit growth required to justify high valuation multiples
Over the last 3 months, the Nifty IT index has gained a whopping 35 per cent, almost 6 times the rise in the Nifty50
 "IT stocks: Double-digit growth required to justify high valuation multiples")
