IT stocks may edge lower after Infosys reportedly warned of a tough start to the next financial year because of weak spending by top clients. The company now expects revenue for the year ending 31 March to come in at the lower end of its forecast. The company was facing a sluggish fourth quarter with some retail and consumer clients ramping down or cancelling projects, reports added. In January 2014, Infosys had forecast revenue to grow at 11.5-12% in 2013-14. ADR of India's second-largest software exporter by sales fell 6.1% to $56.01 on Wednesday, 12 March 2014. Tata Motors British luxury car unit Jaguar Land Rover (JLR) on Wednesday, 12 March 2014 reported 14% rise in sales to 30,487 vehicles in February 2014 over February 2013.
Commenting on the February performance Andy Goss, Jaguar Land Rover Group Sales Operations Director said: “This has been another solid month for Jaguar Land Rover with continued strong demand for models across the range in our international markets. Together with January sales this has been a positive start to 2014, particularly given our comparator period in 2013 included the expected introductory sales spikes for new Range Rover and a number of limited edition models.”
Jaguar sales rose 15% to 5,300 vehicles in February 2014 over February 2013. Land Rover sales rose 13% to 25,187 vehicles in February 2014 over February 2013.
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Commenting on the February performance Andy Goss, Jaguar Land Rover Group Sales Operations Director said: “This has been another solid month for Jaguar Land Rover with continued strong demand for models across the range in our international markets. Together with January sales this has been a positive start to 2014, particularly given our comparator period in 2013 included the expected introductory sales spikes for new Range Rover and a number of limited edition models.”
Jaguar sales rose 15% to 5,300 vehicles in February 2014 over February 2013. Land Rover sales rose 13% to 25,187 vehicles in February 2014 over February 2013.
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