homevideos Newsmarket Newsstocks NewsAccenture raising FY21 guidance is a huge jump; like HCL Tech, TCS & Infosys in India: Edelweiss
Accenture raising FY21 guidance is a huge jump; like HCL Tech, TCS & Infosys in India: Edelweiss
Accenture reported a strong set of second-quarter earnings. In an interview to CNBC-TV18, Sandip Agarwal of Edelweiss Securities discussed how it will impact the Indian IT landscape. Agarwal said that Accenture raising its FY21 guidance by 200 bps is a huge jump.
Accenture reported a strong set of second-quarter earnings. In an interview to CNBC-TV18, Sandip Agarwal of Edelweiss Securities discussed how it will impact the Indian IT landscape. Agarwal said that Accenture raising its FY21 guidance by 200 bps is a huge jump.
“This is a clear sign of an upcycle. The numbers to always look in Accenture is outsourcing and the numbers are tremendously strong,” he told CNBC-TV18.
We like HCL Technologies, TCS and Infosys in the Indian IT space, said Agarwal.
“Our hierarchy from high risk and high return perspective in the largecap remains HCL Technologies, Infosys and TCS for quite some time. We like Wipro and Tech Mahindra also, but if someone willing to take a low risk with the low return then we will suggest TCS, Infosys and HCL Tech – in the order.”
Among midcap IT shares, Mindtree and L&T Infotech will create value in the long-term, he added.
“In the midcap, we continue to believe Mindtree and Larsen & Toubro Infotech will create the same value, what Infosys and TCS have generated, in the next 10-15 years. So they are our long-term structural call.”
Our IT earnings expectations are substantially higher than consensus and will not upgrade expectations for now, Agarwal said.
Watch the video for details
(Edited by : Ajay Vaishnav)
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