1 / 5CLSA on Accenture: The company's constant currency growth guidance for FY22 is ahead of the pre-result consensus estimate, and the guided EBIT margin band implies expansion of 10-30 basis points, according to the brokerage. The constant currency revenue growth of 21 percent YoY is broadly in line with guidance, CLSA said.
2 / 5Credit Suisse on Accenture: The company's constant currency revenue growth of 21 percent in Q4 and 11 percent in last 12 months are at the upper end of its guidance, according to the brokerage. Credit Suisse has Infosys, TCS and HCL Tech as its preferred picks in the Indian IT space.
3 / 5CLSA on oil & gas: India's gas price is set to rise 70 percent in October 2021 to $3.3 per mmBtu, whereas the global rate is expected to average over $7.5 per mmBtu in FY23, according to the brokerage. IGL, MGL and Gujarat Gas should be able to lift their prices by 12-15 percent, CLSA said.
4 / 5CLSA on steel: The recent weakness in the Chinese property market may be an overhang on demand for steel in the near term, with supply cuts and higher costs likely to keep the alloy's prices resilient, the brokerage said. The risk-reward ratio appears to be favourable for Tata Steel, CLSA said.
5 / 5Morgan Stanley on Accenture: The company's guidance for FY22 and commentary on demand should reinforce investors' conviction, according to the brokerage. However, Morgan Stanley said that supply-side challenges pose risks to its margin.
