The Indian IT industry is expected to announce a rock solid quarter for Q2. Infosys results are expected on 11-OCT-2006. IT companies are expected to grow 8.8% QoQ and analysts at JP Morgan have set some high expectations from Infosys, 11% QoQ.
CLSA has outperform on Infosys and Wipro and underperform on the rest(Satyam, TCS, HCL Technologies). Read CLSA report here. [PDF] I personally believe Satyam and HCL-Technologies are undervalued compared to their peers. Both the companies should decisively cross $1 Billion in sales this financial year, critical figure required to bid for large IT contracts. Satyam and HCL-Tech hopefully will get re-rated very soon. Accumulate on every decline.
Disclosure: I am a small investor and hold both Satyam and HCL-Technologies.