Birlasoft share price jumps ahead of Q3 results today. Buy or sell?
Buy or sell stock: Birlasoft shares witnessed strong buying interest during ealy morning deals at the Indian stock market. The multibagger IT stock opened upside and went on to touch an intraday high of ₹814.90 apiece on NSE within a few minutes of stock market's opening bell. However, Birlasoft share price missed by a whisker to breach its lifetime high of ₹817.90 per share.
According to stock market experts, Birlasoft is going to declare its Q3 results today and the market is expecting a robust order intake during October to December 2023 quarter. They said that Birlasift shareholders should hold the scrip maintaining the stop loss at ₹780 per share level. Once the multibagger IT stock breaches its current hurdle placed at ₹820 on a closing basis, it may go up to ₹870 apiece levels in short term.
Also Read: RailTel share price jumps ahead of Q3 results today. Buy, hold, or sell? On what market is expecting from Birlasoft results in Q3FY24 period, Dhruv Mudaraddi, Research Analyst at StoxBox said, "In Q3FY24, Birlasoft Ltd. is poised for low single-digit QoQ growth in CC terms, buoyed by favorable conditions in the manufacturing and insurance sectors, although tempered by headwinds in the life sciences domain.
The primary drivers of this growth trajectory are Cloud, Data analytics, and ERP services. Despite the revenue uptick, a slight decline in EBIT margins is anticipated, primarily attributed to the impact of a two-month wage hike offset to some extent by cost optimization efforts and net currency benefits." Also Read: Nearly 60% of Nifty 50 stocks are down this month; 8 stocks dipped more than 10% "A robust order intake is anticipated, driven by seasonal strength in renewals. Further, we would look for comments on
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