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"While the market continues to view the Q4 earnings disappointment as a blip, we think this is an indication the earnings cycle has come to a peak for offshore IT services providers," UBS India said in a note on Wednesday. ....
Earnings growth to drive valuation of IT stocks higher: Deepak Shenoy SECTIONS Last Updated: May 03, 2021, 05:38 PM IST Share Synopsis We pay 80 times earnings to companies like Nestle which will grow at 10-15%, then why would we not pay 25 times earnings to a company that has the potential to grow 30%, especially in a pandemic, says Deepak Shenoy ETMarkets.com Related Deepak Shenoy, founder, Capital Mind, reasons that earnings growth will drive valuations of IT stocks. If you are paying 30 times earnings today, you might actually see the company growing at 30-35%. We have seen a number of IT companies doing that, even through the lockdown. I do not believe this is a point at which you can write off further growth. If growth is there, valuations will come, Shenoy says in this interview. Edited excerpts. ....
Shares of information technology (IT) companies continued their upward march in Monday s session, with Nifty IT index rising 2 per cent to scale a fresh record high on the National Stock Exchange (NSE), after sector giant Tata Consultancy Services (TCS) posted better-than-expected results for the quarter ended December 2020 (Q3FY21). At 09:59 am, Nifty IT index, the top gainer among sectoral indices, was up 1.8 per cent at 26,643 as compared to a 0.87-per cent rise in the Nifty50 index at 14,472. The IT index hit a fresh record high of 26,808 in intra-day trade. In the past two months, it has outperformed the market by surging 26 per cent, as compared to a 14-per cent gain in the benchmark index. ....