Infosys rose over 1 per cent early Friday ahead of its results for the June quarter later in the day.The scrip was up 1.43 per cent at Rs 1,313.10 at around 9.17 am.
The BSE Sensex climbed 0.24 per cent to 36,635.The earnings are expected to be announced by 4.15 pm today.June is usually considered as a strong quarter for IT firms due to high billing days and budget allocation to future projects.
Brokerage firm Phillip Capital expects the software major to maintain revenue growth guidance for FY19 at 6-8 per cent constant currency growth, with a brighter outlook for deal flow.
It also sees a contraction of 100 basis points QoQ in EBIT margin due to wage hike and visa cost.
Phillip Capital has also projected 1.8 per cent QoQ and 7.7 per cent YoY growth in revenue in dollar terms while net profit may grow 1 per cent sequentially and 7 per cent yearly.
Market participants are focusing on growth from financial services vertical, total contract value (TCV) of deal wins, leadership attrition that seems to have reached worrying levels, account mining metrics, pricing outlook and progress on automation.
Kotak pegged constant currency revenue growth of 2.7 per cent and cross currency headwind of 100 bps.