Whalesbook
Aisa kya hua results mein jo market ko pasand nahi aaya? Wahi apna revenue aur EBIT margin expectations se kam reh gaye. Sabse badi dikkat BFSI segment mein dikhi, jahan 5.5% ki girawat hui hai. Tech aur consumer segment toh achha perform kar rahe the, par BFSI ka loss cover nahi ho paya. Market cap ab lagbhag ₹62,000 Crore ke aas-paas hai aur forward P/E 28.5x chal raha hai, jo competitors TCS aur Infosys se thoda zyada hai.
Aur ek tension hai AI ka. Ye AI clients ke liye productivity badha raha hai, jiske karan IT companies ke liye prices aur profit margin par dabav ban raha hai. Clients ko fayda ho raha hai, par IT vendors ke liye ye thoda mushkil ho raha hai.
Brokers kya keh rahe hain? Views mile-jule hain. Citigroup ne toh 'Sell' rating de di aur price target bhi kam karke ₹3,850 kar diya hai. Unka kehna hai valuation bahut zyada hai. Lekin Motilal Oswal ne 'Buy' rating maintain rakhi hai, haan unhone bhi target thoda adjust kiya hai. CLSA aur HSBC bhi positive hain, target ₹5,755 aur ₹5,250 diye hain. CLSA ne $1.7 billion ka order book stable bataya hai. Overall, kuch log margin recovery ki umeed kar rahe hain, jabki kuch log valuation ko lekar chintit hain.
Stock ka RSI 48 hai, matlab neutral momentum dikha raha hai. Pichle baar bhi jab results miss hue the, stock thoda hi gira tha aur jaldi recover ho gaya tha, to shayad is baar bhi aisa hi ho sakta hai.
Future mein kya hoga? Sab kuch AI ka pressure manage karne aur BFSI segment ko sambhalne par depend karta hai. Company ne FY27 ke liye revenue guidance nahi di hai, jisse market mein uncertainty hai. Par unka 5 saal mein revenue double karne ka goal hai. Dekhte hain ye log ye goal kaise achieve karte hain.