BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Anand Rathi Report
We expect approximately 4.1% QoQ median Q4 growth (6.6% YoY), boosted by cross currency (euro/ pound) tailwinds (a ~70 basis point benefit) and appreciation in the dollar/rupee (~1.2% QoQ).
FY21 growth is likely to be ~5% (Q4 FY21 up 6.6% YoY, median).
Larsen and Toubro Infotech Ltd. and Mphasis Ltd. are likely to be growth leaders and mid-size Persistent Systems Ltd. and Firstsource Solutions Ltd. end up in the top quadrant.
In margins, companies are trending ~2.5% higher YoY (savings in travel, facilities, offshore) with Mindtree Ltd., Cyient Ltd., Mastek Ltd. and Intellect improving the most.
The sector, though, is likely to lose ~100bps in Q4 due to hiring and people retention.
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