This Indian IT stock’s target price raised by Jefferies on strong Q3 beat
1 year, 11 months ago

This Indian IT stock’s target price raised by Jefferies on strong Q3 beat

Live Mint  

Newgen Software Technologies Ltd's Q3 were strong all-round beat as revenue, net profit were ahead of estimates, said global brokerage Jefferies. While US remains subdued, Newgen plans at stepping up on marketing/GSI network to improve growth prospects and remains confident of achieving 20-25%+ revenue growth longer term. Within this, SaaS revenues almost doubled YoY and Support revenues saw a strong 40% YoY growth driven by complete resumption of travel. Management highlighted strong growth outlook for traditional markets and APAC, which in addition to contribution from Australian market from FY24 should drive strong growth for Newgen.

India Growth Revenue Yoy Strong Jefferies Gsi Newgen  remains  raised  beat  q3  cagr  revenues  price  strong  revenue  fy2325  indian  stocks  software  yoy  jefferies  target  growth  newgen

History of this topic

2024 market recap: Domestic Investors’ optimism drives D-Street higher; mid and small-caps lead
Trending News
1 week ago

2024 market recap: Domestic Investors’ optimism drives D-Street higher; mid and small-caps lead

Live Mint  

As 2024 draws to a close, the broad market has delivered a respectable 20% return. India's corporate earnings growth was 25% YoY in December 2023, and this trend continued into March 2024, albeit at a slower QoQ pace, but sufficient to sustain the market rally. However, the trend shifted by the end of September as corporate earnings, which had begun …

Does Siemens’ India growth outlook justify its rich valuation?
3 weeks, 3 days ago

Does Siemens’ India growth outlook justify its rich valuation?

Live Mint  

Shares of Siemens Ltd are up over 3% since it announced its results for the quarter ended September after market hours on Tuesday. Siemens is focussing on increasing its presence in the domestic renewable energy market and expanding its share in exports through integration with the global supply chain of its parent, Siemens AG. The demerger would help the Indian …

India Inc's Q2 has been tepid. Is a recovery in sight?
1 month ago

India Inc's Q2 has been tepid. Is a recovery in sight?

Live Mint  

India Inc. faced another challenging quarter in July-September as corporate earnings continued the recent trend of lukewarm performance. This was particularly evident in revenue growth, which hit a four-quarter low, dragging down net profit expansion for the fifth consecutive quarter, a Mint analysis showed. Costs surge An analysis of expense patterns shows that while aggregate spending held steady at 82% …

These companies post over 45% YoY rise in Q2 profits even as downgrades increase
1 month ago

These companies post over 45% YoY rise in Q2 profits even as downgrades increase

Live Mint  

In its latest earnings review, Motilal Oswal Financial Services observed that earnings performance for the MOFSL Universe was in line with expectations, showing a 1 per cent year-on-year decline. Hindalco: Aditya Birla Group’s Hindalco Industries Ltd reported an impressive 123.3 per cent YoY increase in net profit, reaching ₹1,891 crore for Q2 FY25, driven by robust operational performance in its …

Q2 Results: Jefferies’ Chris Wood flags steepest earnings downgrades for India Inc since 2020
Trending News
1 month, 1 week ago

Q2 Results: Jefferies’ Chris Wood flags steepest earnings downgrades for India Inc since 2020

Live Mint  

In a recent GREED & fear note, Christopher Wood of Jefferies reported that disappointing results from India Inc. in the July-September quarter prompted the steepest earnings downgrades since early 2020. Earnings Downgrades Amid Economic Challenges Jefferies slashed FY25 earnings per share estimates for 63 per cent of the 121 companies that reported September quarter results. Jefferies now projects that Nifty …

Tech Mahindra net profit up 23% to Rs 851 cr; revenue from ops down 1.2% at Rs 13,159 cr
4 months, 4 weeks ago

Tech Mahindra net profit up 23% to Rs 851 cr; revenue from ops down 1.2% at Rs 13,159 cr

New Indian Express  

BENGALURU: Tech Mahindra on Thursday reported a 23% increase in its consolidated net profit at Rs 851.5 crore for the June quarter as against Rs 692.5 crore in the year-ago period. The company’s revenue from operations in the quarter stood at Rs 13,005 crore, down 1.2% YoY, compared to Rs 13,159 crore in the same quarter last year. Mohit Joshi, …

Looking for high-growth stocks? Here are the 5 companies to track
5 months, 1 week ago

Looking for high-growth stocks? Here are the 5 companies to track

Live Mint  

The simple things are often overlooked, no matter the field. The company’s management aims to achieve ₹32 billion in organic sales by FY26, supplemented by approximately ₹4 billion from inorganic acquisitions, targeting an overall growth rate of 21% over the years. From 2020 to 2024, sales increased at a compounded annual growth rate of 23%, and net profits rose by …

TCS Q1 results: Net profit grows 8.7% to ₹12,040 crore
5 months, 1 week ago

TCS Q1 results: Net profit grows 8.7% to ₹12,040 crore

The Hindu  

Tata Consultancy Services Ltd reported consolidated first quarter net profit grew 8.7% year on year to ₹12,040 crore despite degrowth in several business YoY. Commenting on the results K Krithivasan, Chief Executive Officer and Managing Director, TCS said: “I am pleased to report a strong start to the new fiscal year with all-round growth across industries and markets.” “We are …

Corporate India saw 3.7 pc revenue growth in FY24: ICRA
6 months ago

Corporate India saw 3.7 pc revenue growth in FY24: ICRA

Deccan Chronicle  

Chennai: Corporate India reported 3.7 per cent revenue growth in FY24. The softening of input costs helped 17.4 per cent growth in earnings. This softening of input costs along with operating leverage benefits helped the companies see an expansion in operating profit margin by 92 bps to 17.2 per cent in Q4 FY2024. However, the OPM growth of 17.4 per …

Jefferies initiates coverage on 8 Indian stocks: Check complete list, analysis here
6 months, 3 weeks ago

Jefferies initiates coverage on 8 Indian stocks: Check complete list, analysis here

Hindustan Times  

Global brokerage firm Jefferies initiated coverage on 13 Indian stocks in 2024. Jefferies said that it expects EBITDA to grow 3x over FY24-FY28 as Adani Enterprises is riding on the strong industry tailwinds. Here's a look at 8 stocks on which Jefferies has initiated coverage this year: 360 One WAM: Jefferies said, “The asset management company is entering a PE …

Corporate India Revenues Grow Over 3% In Dec Quarter
9 months, 3 weeks ago

Corporate India Revenues Grow Over 3% In Dec Quarter

Deccan Chronicle  

Chennai: Indian companies reported 3.7 per cent growth in aggregate revenues along with margin expansion in the December quarter. However, this softening of input costs along with operating leverage benefits helped the companies witness an expansion of operating profit margin by 171 bps to 17.2 per cent. Nevertheless, input costs remain elevated over historic levels, and as a result, India …

Q3 GDP Growth Likely to Moderate to 6% Vs 7.6% In Q2 FY24: ICRA
10 months ago

Q3 GDP Growth Likely to Moderate to 6% Vs 7.6% In Q2 FY24: ICRA

News 18  

The GDP growth in the third quarter ended December 2023, the official data of which is set to be released on Thursday, February 29, is likely to moderate to 6 per cent year-on-year, against 7.6 per cent in Q2 FY2024, according to a report by rating agency ICRA. Aditi Nayar, chief economist and head at ICRA Ltd, said, “Lower volume …

Esab India Q3 FY24 Results Live: Profit Rises by 4.52% YoY
10 months, 2 weeks ago

Esab India Q3 FY24 Results Live: Profit Rises by 4.52% YoY

Live Mint  

Esab India, a leading company in the welding and cutting equipment industry, has declared their Q3 FY24 results on 08 Feb, 2024. The topline of Esab India witnessed a growth of 12.74% YoY, indicating a strong performance in the market. Esab India's selling, general & administrative expenses rose by 15.22% q-o-q and increased by 28.71% Y-o-Y. Esab India Financials Period …

Q3 Result Preview: Sun Pharma to lead with highest qoq rise in the US-Jefferies
11 months ago

Q3 Result Preview: Sun Pharma to lead with highest qoq rise in the US-Jefferies

Live Mint  

Q3 Result Preview: The favorable trend seen by Indian Pharma companies on earnings growth during the first half of FY24 may continue during the December quarter too. Analysts at Jefferies India Pvt Ltd expect the current benign US pricing environment to continue and believe most of their coverage firms will clock sequential sales growth in the quarter. Lupin will Dr …

Smallcap stock locked at 5% upper circuit to hit 52-week high on Q3FY24 results
11 months, 1 week ago

Smallcap stock locked at 5% upper circuit to hit 52-week high on Q3FY24 results

Live Mint  

Newgen Software Share Price: Shares of IT software firm Newgen Software Technologies Ltd were locked at over five per cent upper circuit to hit its fresh 52-week high mark of ₹898.60 on the BSE, after announcing its October-December quarter results for fiscal 2023-24 earlier today. Newgen Software Technologies' net profit rose 44 per cent in the December quarter at ₹68.3 …

Q3 results: Top 4 Indian IT companies balance caution and optimism
11 months, 1 week ago

Q3 results: Top 4 Indian IT companies balance caution and optimism

Business Standard  

The third-quarter earnings of the top four Indian IT companies indicate that the demand environment continues to be challenging amid some cautious optimism for the future. Thierry Delaporte, chief executive officer and managing director, Wipro, said during the earnings: “We are starting to see healthy indicators of growth.” Wipro has forecast a muted sequential revenue growth rate of minus 1.5 …

Newgen Software Tech closes higher by 11% on impressive Q2 results; net profit up nearly 60%
1 year, 2 months ago

Newgen Software Tech closes higher by 11% on impressive Q2 results; net profit up nearly 60%

Live Mint  

Newgen Software Technologies, a small-cap IT stock, finished Tuesday's session strongly with a gain of 11.37% at ₹1,041.40. For Q2 FY24, the company reported a 59% surge in its consolidated net profit to ₹48 crore, up from ₹30 crore recorded in the corresponding quarter of the last fiscal. The consolidated revenue from operations reached 293 crore compared to ₹226 crore …

Accenture results leave IT investors between hope and despair
1 year, 2 months ago

Accenture results leave IT investors between hope and despair

Live Mint  

Accenture’s revenue for the quarter ending August, deal bookings and FY24 revenue growth guidance point to a long recovery path for the Indian information technology sector. Secondly, this also means that large deal ramp ups could take longer, further weighing on the sector’s FY25 revenue growth trajectory—an incremental negative. Accenture’s FY24 revenue growth guidance of 2-5% was modest considering that …

Q1 Results Review: Earnings growth continues even as revenue slows
1 year, 4 months ago

Q1 Results Review: Earnings growth continues even as revenue slows

Live Mint  

Q1 Results Review: The corporate earnings for the first quarter of FY24 were strong and largely in-line with the street estimates with domestic cyclical sectors such as companies in BFSI and Automobile sectors driving the earnings growth. Among sectors, IT Services companies reported weak performance during the quarter with flattish median revenue growth QoQ in CC, in an otherwise seasonally …

Newgen Q1 Results: PAT rises by 57% to ₹30.2 crore; revenue jumps by 34%
1 year, 5 months ago

Newgen Q1 Results: PAT rises by 57% to ₹30.2 crore; revenue jumps by 34%

Live Mint  

Newgen Software Technologies released its Q1FY24 results on Wednesday. During the quarter ending June 2023, Newgen Software Technologies significant growth in subscription revenues which jumped to ₹88.6 crores, 24% higher than reported in the same quarter last year. In terms of license growth, Newgen Software Technologies reported a strong quarter as the revenue from the sale of products/licenses was at …

’Profit beat, in-line revenue growth hint at India’s earnings up-cycle trend’
1 year, 6 months ago

’Profit beat, in-line revenue growth hint at India’s earnings up-cycle trend’

Live Mint  

A robust earnings beat and in-line revenue growth for the quarter ended March, according to a study by international brokerage company Morgan Stanley, confirmed India's earnings up-cycle trend. Nifty companies covered by Morgan Stanley reported earnings before interest, taxes, depreciation, and amortisation, profit before tax, and net profit growth of 14%, 17%, 21%, and 24% for the fourth quarter of …

LTTS investors revel in Q4 results, set aside SWC acquisition concerns for now
1 year, 7 months ago

LTTS investors revel in Q4 results, set aside SWC acquisition concerns for now

Live Mint  

Midcap IT company L&T Technology Services Ltd posted an impressive 2.2% sequential revenue growth in constant currency terms for Q4FY23, surpassing expectations and outperforming top-tier rivals such as Tata Consultancy Services, Infosys, and HCL Ltd. "FY24 organic revenue growth guidance of 10%+ is in line with our estimate, although the positive vertical commentary from management suggests an upside risk," said …

Macrotech Developers Q4 earnings: PAT up 38% YoY, Board declares 1:1 bonus issue and dividend of 20%
1 year, 8 months ago

Macrotech Developers Q4 earnings: PAT up 38% YoY, Board declares 1:1 bonus issue and dividend of 20%

Live Mint  

Macrotech Developers is a large cap company recorded a market cap of ₹43,744.02 Cr during Friday closing. The company said in a stock exchange filing that its Board of Directors have approved “Issuance of bonus equity shares in the proportion of 1 new fully paid up equity share of ₹10 each for every existing 1 equity share of ₹10 each …

India Inc's topline growth in Q4FY23 to halve to 10-12%: Report
1 year, 8 months ago

India Inc's topline growth in Q4FY23 to halve to 10-12%: Report

The Hindu  

India Inc. is likely to report a halving of revenue growth in the fourth quarter of FY23, a credit rating agency said on Thursday, as companies start reporting their financials. Revenue growth will come down to 10-12% as against 22.8% for the January-March period in the year-ago, Crisil's Market Intelligence and Analytics arm said. Consumer discretionary products such as airlines, …

Global headwinds to deeply impact IT revenue growth in FY24, says CRISIL
1 year, 8 months ago

Global headwinds to deeply impact IT revenue growth in FY24, says CRISIL

The Hindu  

Global macroeconomic and financial sector headwinds are set to take a deep toll on the domestic IT companies' revenue growth in FY24, a report said on Friday. The ₹10 lakh crore sector is likely to witness revenue growth plunging by up to 9 percentage points to 10-12% in FY24 as against the nearly 20% growth estimated in FY23, Crisil Ratings …

India Inc's Q3 Margins Increase Sequentially Despite Subdued Revenue Growth: ICRA
1 year, 9 months ago

India Inc's Q3 Margins Increase Sequentially Despite Subdued Revenue Growth: ICRA

News 18  

India Inc’s operating profit margin expanded 180 basis points sequentially to 16.3 per cent q-o-q during the December 2023 quarter despite subdued sequential revenue growth of 1.4 per cent, according to an analysis by ratings agency ICRA. The report revealed expectedly positive revenue trends, with a YoY growth of 17.2 per cent, despite subdued sequential revenue growth of 1.4 per …

’Uncertain times ahead..’: Jefferies on Indian IT companies
1 year, 11 months ago

’Uncertain times ahead..’: Jefferies on Indian IT companies

Live Mint  

A sharp slowdown in net hiring, muted growth outlook in 4Q and a potentially slower conversion of bookings to revenues points to a sharp growth moderation for Indian IT firms, highlighted Jefferies in a note on Indian IT firms who sees ‘uncertain times ahead’ for the sector. “After the Q3 results so far, the brokerage house expects aggregate revenue for …

Contrasting Q2 stories of two tech giants of India
2 years, 2 months ago

Contrasting Q2 stories of two tech giants of India

Live Mint  

Information technology services provider Wipro Ltd’s stock closed 7% lower on Thursday. View Full Image Fall behind Small Indian cinemas take on big Hollywood studios Premium trumps regular in demand for consumer durables How to transfer shares from a demat account to another “Wipro’s turnaround story is faltering," said analysts at Ambit Capital Pvt. Third, “Overall Ebit margin has fallen …

Wipro Q2 results: Will the IT giant improve profitability YoY? Key highlights
2 years, 2 months ago

Wipro Q2 results: Will the IT giant improve profitability YoY? Key highlights

Live Mint  

Ahead of its Q2 earnings, IT-major Wipro shares were under pressure on Tuesday. Sameer Pardikar and Sujay Chavan Research Analysts at ICICI Direct in their Q2 preview report for Wipro said, "We expect the company to report 4% QoQ CC growth in revenues in IT services. ICICI Direct analysts expect Wipro to report a revenue of ₹22,722.2 crore up by …

What is the state of the Indian economy today?
2 years, 3 months ago

What is the state of the Indian economy today?

Hindustan Times  

India’s Gross Domestic Product expanded by 13.5% on a year-on-year basis in the first quarter of the fiscal year 2023, largely in line with our projections. GDP growth in the previous quarter was driven by a surge in consumption demand, with private final consumption expenditure surging by 25.9% YoY — this alone contributed as much as 14 percentage points to …

Infosys misses profit estimates in Q1 but raises FY23 revenue guidance
2 years, 4 months ago

Infosys misses profit estimates in Q1 but raises FY23 revenue guidance

Live Mint  

IT-giant, Infosys registered a single-digit 3.2% growth in consolidated net profit to ₹5,360 crore for the quarter ending June 30, 2022 compared to a profit of ₹5,195 crore in the same period last year, missing analysts' as rising costs took the shine off deal wins in the quarter. Consolidated revenue, meanwhile, increased by 23.6% in the quarter under review to …

Indian IT Sector To Grow 15.5% To $227 Bn In FY22, Fastest In A Decade: Nasscom
2 years, 10 months ago

Indian IT Sector To Grow 15.5% To $227 Bn In FY22, Fastest In A Decade: Nasscom

ABP News  

Mumbai: India's IT sector is set to grow at 15.5 per cent – the fastest in over a decade – to $227 billion in FY22, as the pandemic pushes up demand for digitisation at companies across the world, industry grouping Nasscom said on Tuesday. From a revenue pie perspective, exports are set to grow 17.2 per cent to $178 billion …

India's PC Market Continued to Surge in Q1 2021, Apple Posts Biggest YoY Growth
3 years, 7 months ago

India's PC Market Continued to Surge in Q1 2021, Apple Posts Biggest YoY Growth

News 18  

India’s traditional PC market continued to witness growth, with shipments rising 73.1 percent year-over-year in Q1 2021, according to new data from the International Data Corporation’s Worldwide Quarterly Personal Computing Device Tracker. HP returned to the top position, replacing Dell in the overall PC market as its shipments grew 102.1 percent YoY in Q1 2021. Notably, Apple tied with Asus …

ICICI Sec sees double-digit revenue growth in top IT companies in FY22, FY23
3 years, 11 months ago

ICICI Sec sees double-digit revenue growth in top IT companies in FY22, FY23

Live Mint  

New age technologies like cybersecurity, app development and Cloud are witnessing robust growth. Further, considering TCS’ digital prowess and ability to offer end to end solution makes it a key beneficiary of robust growth in digital technologies leading to double-digit revenue growth over a sustainable period. "This, coupled with industry leading growth & solutions, better capital allocation, stable management and …

India’s SaaS revenue set to jump 6X to $13-15 billion by 2025: Nasscom report
4 years, 5 months ago

India’s SaaS revenue set to jump 6X to $13-15 billion by 2025: Nasscom report

Live Mint  

Despite the market disruption caused by the covid-19 pandemic, software-as-a-service has emerged as a bright spot, seeing both growth and investment opportunities. The report “Riding the Storm: Towards the Giant India SaaS Opportunity,” claims that India can become a global hub for SaaS by 2025 by strengthening the ecosystem that includes a strong push from the government, access to a …

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