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Infosys to cut dollar guidance, TCS confident of growth: IDFC

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Infosys to cut dollar guidance, TCS confident of growth: IDFC

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New Delhi: 

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Infosys management took questions from shareholders at the annual general meeting Saturday, while managers at TCS, India's biggest IT exporter, addressed an analyst meet over the weekend.

The TCS management has said in the past that it is confident of beating IT lobby Nasscom's dollar revenue growth forecast of 11-14 per cent. The company reiterated the same in the analyst meet, though it said the first half of this fiscal could see stronger growth. The management hopes stable margins on constant currency basis.

"The commentary from Infosys and TCS has not changed significantly over the last 3-4 quarters. TCS has been positive, while Infosys has been cautious," Hitesh Shah, analyst at IDFC Securities told NDTV Profit today.
Infosys, which had forecast for 8-10 per cent growth in FY13, said margins are likely to decline in the first quarter despite a freeze on salary hikes. Infosys' guidance implies a meaningful pick up in the second half of the year, which is in contrast to TCS.

"Infosys will re-adjust its guidance for rupee weakness and weakness in cross currencies against the dollar. It may cut its dollar guidance by 1.5 per cent, while the rupee guidance may be upped," Shah said.

The outlook of the two companies is evident in the share prices too. While TCS shares are trading near the 52-week high, Infosys stocks have been way of the mark.



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