• Infosys is increasing its focus on geographies like North America and EMEA region to drive growth of its core banking solution Finacle. Finacle has a dominant share in India. We are making significant investments in markets like North America, EMEA (Europe, Middle East and Africa), Senior VP and Global Head of Finacle Michael Reh said • IT Services Sector – Accenture 1QFY15 Takeaways- Gains Market Share, Digital Business Strong and ERP Picks Up- Institution Desk: IT Services Sector- Accenture 1QFY15 Takeaways- Gains Market Share, Digital Business Strong and ERP Picks Up: Accenture reported its 1QFY15 (YE: August 2015) numbers recently. Revenue was better than market expectations and contrary to our global-macro-concern-driven expectations – it upwardly revised FY15 revenue guidance by 100bps in constant currency (CC) terms (from 4%-7% earlier to 5%-8%). The upward revision in guidance is likely company-specific. The underlying data and commentary should look a tad worrisome for investors in Indian information technology (IT) services companies. Accenture seems to be gaining market share within outsourcing from most of its large India-listed IT peers barring Tata Consultancy Services (TCS) and Tech Mahindra, despite having a larger revenue base. In the new demand driver of the industry – Digital – Accenture seems to have taken an early lead and has clocked up an impressive US$5bn revenue run-rate and is growing at more than 20%. In positive tidings for the Industry, it indicated a pick-up in implementation of both traditional as well as cloud-based ERP – an area of strong presence for certain Indian companies and also sounded positive on BFSI – an area of large presence for certain Indian companies • State Bank of India-BUY- Management Meet Update- Confidence Reaffirmed – Institution Desk: We had a meeting recently with Ms. Arundathi Bhattacharya, chairperson of State Bank of India (SBI). We discussed a host of issues ranging from the current macro-economic environment, government policy moves at the macro level, recent guidelines from the Reserve Bank of India (RBI), its 2QFY15 performance and the road ahead for the bank. We have retained our Buy rating on SBI and revised upward the target price on it to Rs363 (Rs320 earlier - adjusted for 1:10 stock split).
Posted on: Mon, 22 Dec 2014 07:01:05 +0000
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