Mindtree down even before declaring numbers

Mindtree is to declare its Q1FY17 numbers today and even before the numbers are out, the stock has become the top loser on the BSE currently. With volumes jumping up almost 6 times, the stock price has slumped over 4% to Rs.611. Its 52-week low currently stands not too far away at Rs.601.25.

The market has already decided that after the two biggies- TCS and Infosys showed pressure on the earnings in Q1, this mid cap company too will show a poor show. Most expect a flat or lower performance with EBIT margins expected to fall due to seasonal costs and additional amortization charges.

The numbers are yet to come but the markets have most certainly set their expectations to a low. Clearly, the markets are driven stock specific, mainly on the back on Q1 numbers.