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Infosys will report results tomorrow, keep an eye on it

Despite seasonal weakness, a marginal uptick in the business momentum and weaker rupee are expected to help Infosys clock better revenue growth for the March 2016 quarter.

On April 15, the country's second largest software exporter will declare financial performance for the March 2016 quarter. According to the average of estimates by seven brokerages and ET Intelligence Group's forecast, revenue is expected to grow sequentially by 4.3% to Rs 16,583.2 crore compared with 1.7% growth in the previous quarter. Net profit will grow by a tad 0.7% to Rs 3,487.8 crore, slower than 2% increase in the December 2015 quarter, according to Economic Times.

Compared with the year-ago period, growth in revenue and net profit is expected to be strong at 23.7% and 12.6% respectively.

From technical point of view, shares have been sliding after breaking through short-term trendline, but now they are right above important support, and I would expect a bounce in short-term.

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