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Stocks of major information technology companies are likely to trade in a narrow range next week in the absence of any sector-specific triggers. Investors will keep an eye out for announcements on deal wins.
This week saw Infosys bag a $50-mln contract from the Ministry of Corporate Affairs to implement an e-governance solution, while Wipro Technologies entered into a strategic partnership with US-based SuccessFactors to market and provide consulting and implementation services for the latter's business execution suite globally. Tata Consultancy Services and HCL Technologies continue to remain volume outperformers, while Infosys, with its improving volume growth, and Wipro on the back of better guidance and top client traction, have also indicated some signs of improvement. However, we believe it is too early for companies to be bullish given the strained macro environment.
