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Reports Archive
Date Heading Pages Author Download
Feb-17 Nasscom Defers Giving Industry Growth Projection for FY18 3 Nirmal Bang
Feb-17 Downgrade cycle bottoming; valuations cheap 14 Religare Research
Feb-17 An Executive Order on H1 B visas could bring forward the pain to FY18 3 Nirmal Bang
Jan-17 Will 2017 Be Better Than 2016? 7 Nirmal Bang
Jan-17 H1-B Related Minimum Wage Increase... 21 Nirmal Bang
Jan-17 3QFY17E Results Preview 16 HDFC Securities
Jan-17 Focus to be on CY17 IT budgets and change in visa policy in the US 7 IDBI Capital
Jan-17 All eyes on CY17 budgeting trends 9 Emkay Research
Jan-17 In the middle of old and (potentially) new problems 22 Motilal Oswal
Dec-16 Sector Update - IT Services 70 Emkay Research
Nov-16 INR depreciation – Tailwind to aid investments 4 IDFC Securities
Nov-16 The Trifecta Creates Risks 5 Nirmal Bang
Oct-16 Transient vs Cyclical vs Structural 7 Nirmal Bang
Oct-16 Brace for another tepid quarter 12 Centrum Research
Oct-16 Slower pick-up in growth and cross-currency volatility to impact Q2FY17 7 IDBI Capital
Oct-16 No seasonality at play; expectations running low 9 IDFC Securities
Oct-16 No fireworks this season 20 Motilal Oswal
Oct-16 Q2 Preview: Slow growth to pressurise margins 10 Religare Research
Oct-16 Accenture's guidance implies moderation ahead 4 Emkay Research
Sep-16 Does IT spending increase after a US election? 7 IIFL
Sep-16 US Tech hiring continues to be weak 5 IIFL
Sep-16 Are we through with estimate moderation cycle yet? 4 Motilal Oswal
Sep-16 What's driving spate of growth downgrades? 6 Nomura Securities
Aug-16 Will They Throw Further Light On Demand? 4 Nirmal Bang
Aug-16 Macro taking its toll... 4 Motilal Oswal
Jul-16 Tighten your belts for rough weather ahead 7 Emkay Research
Jul-16 Looking Beyond The Quarter - Focus Is On Both Revenues And Margins 7 Nirmal Bang
Jul-16 IT Services Sector - Seasonally strong Q1FY17; Infosys to outperform as regards organic growth 5 IDBI
Jul-16 Q1 Preview: Mixed growth with weaker margins 8 Religare Research
Jul-16 Sentiment likely to override fundamentals in the near term 16 ICICI Securities
Jul-16 Seasonality cheer; Brexit joker in the pack 13 Edelweiss Securities
Jul-16 Brexit: Prima facie relevance for Indian IT 6 Motilal Oswal
Jun-16 IT Digital Day: Key Takeaways 10 Motilal Oswal
Jun-16 ACN 3Q: Read-across for Indian IT 8 Nomura Securities
Jun-16 Analysing impact of Brexit 4 Prabhudas Lilladher
Jun-16 India IT Services - Brexit raises red flag over European demand 12 Religare Research
Jun-16 IT Services - Is the threat from GICs real? 10 Emkay Research
Jun-16 Mar'16 qtr review: Growth challenges persist; FY17E likely a test on margins 12 Emkay Research
Jun-16 IT Sector - Q4FY16 Results Review 9 India Nivesh
May-16 Converging commentaries, diverging performance 14 Motilal Oswal
May-16 Sanguine 1H seasonality ahead? 2 Motilal Oswal
Apr-16 Warning signs for BFSI demand 6 Nomura
Apr-16 4QFY16F preview 6 Nomura
Apr-16 Cross-currency volatility knocks the door again in Q4FY16 5 IDBI
Apr-16 Seek clarity on demand trends as cross currency headwinds abate 10 Emkay Research
Apr-16 So which way is demand headed in FY17? 20 Motilal Oswal
Apr-16 Tepid quarter, outlook holds the key 11 Centrum Research
Apr-16 Modest quarter; outlook robust 12 Edelweiss Securities
Apr-16 Mixed Industry Commentary = Dispersed Performance? 7 Nirmal Bang
Apr-16 Mixed quarter despite low base 8 Religare Research
Mar-16 Read-across for Indian IT 8 Nomura
Mar-16 Downside Risks Open Up - It Is That Time Of The Cycle! 81 Nirmal Bang
Mar-16 Tech-o-meter 13 Nomura
Feb-16 What has Digital Changed?... 18 Motilal Oswal
Feb-16 Q3 Review: A miss despite low expectations 9 Religare Research
Jan-16 Growth on a holiday 20 Motilal Oswal
Jan-16 Our Ratings And Estimates Put Under Review 4 Nirmal Bang
Jan-16 Low expectations in Q3FY16; Prefer HCL Technologies and Infosys 6 IDBI
Jan-16 Cross currency headwinds, Chennai disruption add to usual Dec weakness 10 Emkay Research
Jan-16 Q3 Preview: Growth to remain tepid; outlook key 8 Religare Research
Jan-16 Furloughs, Currency and Chennai To Drive Negative USD Revenue Growth 6 Nirmal Bang
Dec-15 Visa Fee Hike: Impact on margins by 50-70bp, and earnings by 2-4% 6 IDFC
Dec-15 Some notes of caution for Indian IT 7 Nomura
Dec-15 Weak Outsourcing Growth Raises A Red Flag 3 Nirmal Bang
Dec-15 Mixed quarter from Accenture 5 Religare Research
Dec-15 Chennai Floods: Impact on Indian IT 5 IDFC
Dec-15 Digital continues to drive positive surprise... 6 Motilal Oswal
Nov-15 Revenue Reset Continues; Brace For A Tough Quarter Ahead 18 Nirmal Bang
Nov-15 Q2 Review: Margin surprise drives earnings beat 8 Religare Research
Nov-15 Strong hiring at Accenture raises concern 9 Centrum Research
Nov-15 Sep'15 quarter review 6 Emkay Research
Oct-15 Deal momentum softens after previous quarter spurt 5 IDFC
Oct-15 Cloud and a host of silver linings 163 IDFC
Oct-15 Seasonal strength to reflect in constant currency growth 20 Motilal Oswal
Oct-15 Expect positive outlook to be maintained in Q2FY16 6 IDBI
Oct-15 Currency depreciation to boost operating performance 10 Emkay Research
Oct-15 A good quarter likely with favourable currency 17 Credit Suisse
Oct-15 INR Depreciation Could Lead To Unexpected Surprises At PAT Level 12 Nirmal Bang
Oct-15 2QFY16F preview 6 Nomura
Sep-15 'Tech'-o-meter 14 Nomura
Aug-15 How does IT perform during INR depreciation? 6 Nomura Securities
Aug-15 Q1FY16 Review: Revenue beat led by Americas 8 Religare Research
Aug-15 INR To The Rescue But Global Macros Worsen 6 Nirmal Bang
Aug-15 Innovation, automation and digital: The next wave 37 Edelweiss Research
Aug-15 Cognizant - Result Update 4 Nirmal Bang
Aug-15 Cognizant Result 4 Prabhudas Lilladher
Jul-15 Accelerated momentum, IHVs at no disadvantage 3 Prabhudas Lilladher
Jul-15 Did you know – Accenture vs. Indian IT? 8 Nomura
Jul-15 Q1FY16E Results Preview 7 IndiaNivesh Research
Jul-15 Mixed bag; INR depreciation to cushion seasonal margin hit 9 IDFC
Jul-15 YoY CC revenue growth intact at tier-I, INR tailwind 18 Motilal Oswal
Jul-15 Further Downward Reset Of Street US$ Revenue Estimates Likely 4 Nirmal Bang
Jul-15 1QFY16F preview 6 Nomura
Jul-15 TCS & HCLT to outperform in seasonally strong Q1FY16 6 IDBI
Jul-15 Jun'15 quarter preview: Quarter of reckoning 8 Emkay Research
Jul-15 Strumming the growth tune 12 Edelweiss
Jul-15 A polarised 1Q 9 IIFL
Jul-15 Further Downward Reset Of Street US$ Revenue Estimates Likely 4 Nirmal Bang
Jul-15 Q1 Preview: Better revenue growth, weaker margins 7 Religare Research
Jul-15 Large cap IT – the long and the short of IT 14 ICICI Securities
Jun-15 Digital powered growth 8 Edelweiss
Jun-15 Accenture Q3FY15 results: Good quarter 4 IDFC
Jun-15 Demonstrating impact of Digital through another beat… 4 Motilal Oswal
Jun-15 Eating Into Indian IT Industry's Main Course 3 Nirmal Bang
Jun-15 Tapering growth and volatility weighing on valuations 18 Anand Rathi
Jun-15 Tech-o-meter 14 Nomura
Jun-15 Return mirrors previous quarter performance: A quant analysis 4 Prabhudas Lilladher
Jun-15 New H-1B norm increases hassle for Indian IT 3 Prabhudas Lilladher
May-15 Benign forex could surprise Q1FY16 print 8 ICICI direct.com
May-15 Demand trends remain stable, 4Q earnings do not show any structural concerns 22 Credit Suisse
May-15 IT Services Update 5 IDFC
May-15 Downside risks to modest growth expectations? 77 Emkay Research
May-15 Cognizant result: Growth and Guidance allays demand concern 3 Prabhudas Lilladher
May-15 Is the party over? 10 Motilal Oswal
Apr-15 Structural And Cyclical Speed-breakers Ahead 119 Nirmal Bang
Apr-15 Weakness in Q1CY15, Commentary for CY15 optimistic 3 Prabhudas Lilladher
Apr-15 Volatility offers the opportunity to gain exposure 16 Anand Rathi
Apr-15 4QFY15F preview 20 Nomura
Apr-15 Likely Phasing out tax incentives for IT SEZs 4 Motilal
Apr-15 4QFY15: Pronounced weakness poses questions... 18 Motilal
Apr-15 H1-B cap reached – Another year of lottery system 4 Prabhudas Lilladher
Apr-15 IT Services Mar'15 quarter preview 9 Emkay
Apr-15 Accenture 2Q Performance: Should Worry Indian It Services Players 2 Nirmal Bang
Apr-15 Q4 Preview: Soft quarter led by FX headwinds 8 Religare
Apr-15 Cross currency pain 9 IDFC
Mar-15 ACN 2Q: positive read-across for India IT 7 Nomura
Mar-15 Strong demand mitigates currency concerns 7 IIFL
Mar-15 Accenture earnings beat – Consulting drives surprise 4 Religare
Mar-15 The sharp depreciation of global currencies 6 Motilal Oswal
Feb-15 Time to focus on capital allocation 25 Religare
Feb-15 Remain positive on demand 15 Nomura
Feb-15 Rear View OND?15: Improving momentum more evident 24 Prabhudas Lilladher
Feb-15 Dec14 quarter review: In line with modest expectations - Feb 04, 2015 7 Emkay
Jan-15 Looking Ahead at CY15 – Slowing Growth; INR Boost 12 Citi
Jan-15 India IT Services Sector 18 Credit Suisse
Jan-15 Furloughs and cross currency halt growth 18 Motilal
Jan-15 Dec'14 preview: Cross currency pangs add to the seasonal weakness 9 Emkay
Jan-15 Q3 Preview: Negative FX movements to hit growth 5 Religare Research
Dec-14 IT Services Sector Update 3 Nirmal Bang
Dec-14 India IT Services - 'Tech'-o-meter 14 Nomura
Dec-14 Technology - Under the weather? 8 Motial Oswal
Nov-14 Sep'14 quarter review - Mild misses than hits 11 Emkay
Nov-14 Rear View JAS-14: X-Currency led misses, but outlook healthy 22 Prabhudas Lilladher
Nov-14 Strong result despite X-currency, Positive read-thru for Indian IT 3 Prabhudas Lilladher
Oct-14 Largely improving trend in macro data supports our constructive view on demand 13 Nomura
Oct-14 Quarterly growth rates irrelevant due to large deals timing 13 Centrum
Oct-14 Seasonality and sanguine macro to drive revenue growth 18 Motilal Oswal
Oct-14 Take a Breather - Positives Priced in? 39 Citi
Oct-14 Indian IT Services - Two unique plays: Persistent and Cyient 47 Anand Rathi
Sep-14 FPP v/s T&M: A qualitative assessment of two billing models 24 Prabhudas Lilladher
Sep-14 India - IT : Burden of high expectations 6 IIFL
Aug-14 India Technology - A good start to the year 18 Anand Rathi
Aug-14 IT Services - Redux of CY10-11 likely 10 Emkay Research
Aug-14 Information Technology - Rear View AMJ-14: Steady ramp-ups and deal closures 21 Prabhudas Lilladher
Aug-14 Technology - COGNIZANT 2QCY14: Guidance cut to 14% from 16.5%... 6 Motilal Oswal
Aug-14 IT : Guidance cut - Company and client-specific issue 3 Prabhudas Lilladher
Aug-14 IT Services - Jun'14 quarter review - US bounced back 6 Emkay Research
Jul-14 India Technology - Revenue acceleration, but margins hit on wages, visa and currency 18 Anand Rathi
Jul-14 IT Services - Sector Update 12 Centrum
Jul-14 India IT services - 1QFY15F preview 6 Nomura
Jul-14 IT Services - June'14 quarter preview 8 Emkay Research
Jul-14 Takeaways from Pune visit TECHM, PSYS, KPIT 20 Motial Oswal
Jul-14 IT Services - Q1FY15: FY15 off to a good start 7 IDBI Capital
Jun-14 Accenture 3QFY14: Encouraging kick-off to FY15 6 Motial Oswal
Jun-14 Strong currency overshadows brawny business outlook 24 Anand Rathi
May-14 Attrition: HR faux-pas or Stumbling growth? 14 Prabhudas Lilladher
May-14 Cognizant 1QCY14 results and takeaways for Indian IT 6 Motial Oswal
May-14 Information Technology : Guidance retained - Discretionary, Hiring: Few silver lines 3 Prabhudas Lilladher
Apr-14 Technology - Pricing pressure: MNC aggression 2.0? 12 Motial Oswal
Apr-14 US performance disappoints, Europe lives to the promise 7 Emkay
Apr-14 Q4FY14 review: Mixed quarter; strong INR drives earnings cut 6 IDFC
Apr-14 US performance disappoints, Europe lives to the promise 7 Emkay Research
Apr-14 Sector booting up; long-term "hyper-growth" potential 51 Goldman Sachs
Apr-14 IT Services - ISG-One Index: Strong deal momentum in Q1; healthy outlook 5 IDFC
Apr-14 India IT services - ISG guides for strong 1H14 6 Nomura
Apr-14 Information Technology - H1-B cap reached - Could trigger onsite wage inflation? 5 Prabhudas Lilladher
Apr-14 IT Services - Q4FY14: Seasonally weak quarter; Commentary on FY15 remains a key 7 IDBI Capital
Apr-14 Technology - 4QFY14 Preview: Speed breaker to growth momentum 15 Motilal Oswal
Apr-14 4QFY14 preview - Quick Note 6 NOMURA
Apr-14 IT Services - Sector Update 10 Centrum
Apr-14 Demand healthy, but currency posses margin risk 6 Prabhudas Lilladher
Apr-14 India IT Services Sector 16 Credit Suisse
Mar-14 Read-through from Accenture results - Good booking traction 2 Religare Research
Mar-14 Demand healthy, but currency posses margin risk 6 Prabhudas Lilladher
Mar-14 India IT services - Who does better in 4Q? 5 Nomura
Mar-14 IT - Digital Day: Reinforces confidence in SMAC 8 Edelweiss Research
Mar-14 IT Services Update 7 CENTRUM
Feb-14 Global IT Services 37 Citi
Feb-14 Indian IT Services - Midcaps: Revved up for 2014 41 Anand Rathi
Feb-14 Information Technology - Rear View OND-13: Optimism v/s Pragmatism 20 Prabhudas Lilladher
Jan-14 Cognizant: Misses expectation - Lower expectation a safer bet 4 Prabhudas Lilladher
Jan-14 IT Services - Positive demand trends, US Immigration Bill the wild card 6 Emkay Research
Jan-14 IT Services - US Immigration Bill risks on radar 4 Emkay Research
Jan-14 IT - Seasonally weak quarter with positive bias 8 Edelweiss Research
Jan-14 IT Services - Cross currency to boost revenue growth in seasonally weak quarter 7 IDBI Capital
Jan-14 Strategic and Technology trends for the next cycle 6 Prabhudas Lilladher
Jan-14 Slow seasonality; improving cyclicality 17 ICICI Securities
Nov-13 Information Technology Update 34 Nirmal Bang
Nov-13 IT Services - Continental Europe: Doors opening up 8 Emkay Research
Nov-13 Healthy jump in demand; captives, MNCs not yet a threat 6 Motilal Oswal
Nov-13 Indian IT Services - Back in the groove 41 Anand Rathi