BofA said that regulatory tech spending by banks is expected to go up as they are required to meet Basel III norms. Moreover, SAP upgrade deadline in the US is now becoming more of a priority for enterprises amidst the 2027 support deadline.
Infosys was evaluating the implications of Income Tax Department orders on the financial statements for the quarter and year ending March 31, 2024. The IT firm will be announcing its March quarter results on April 18.
Late last week and early part of this week, the fall in the market was led by a few largecap IT stocks. The reasons, once again there are fears that as the Q4 earning season comes closer, large IT companies would be announcing lackluster results with no great guidance for FY 25. While the probability of that happening cannot be ruled out, the question is whether these all things have been built in the underperformance of the stocks. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores.