GABRIEL INDIA LTD Q2 RESULTS
Q1 results today: Infosys, Tata Technologies among 45 companies to announce earnings on Thursday
Infosys, Polycab, CEAT, Havells India are set to announce earnings. Infosys anticipates a 2.5% Q-o-Q revenue rise, or 3% in constant currency, with net profit up 6% Y-o-Y and a March net profit increase of 30% Y-o-Y. Motilal Oswal forecasts 2% Q-o-Q revenue rebound and 20.4% operating margin, along with Kotak Equities' 50 bps headwind expectation.
GIFT Nifty signals a muted start for D-Street. Here's the trading setup for today's session
Domestic markets traded positively with Nifty futures indicating a flat start. Nifty's uptrend remains intact with no significant reversal pattern. Global markets show mixed movements. Oil prices rise on US crude stock decline. FPIs turn net buyers. Stay updated on Q1 results of major companies.
Infosys Q1 Preview: Net profit may jump 6% YoY; strong sequential revenue growth seen
Infosys Ltd is anticipated to show solid sequential revenue growth in Q1 of June 2024, fueled by large deals. Net profit expected to rise by 6% year-on-year. Key areas of interest include deal TCVs, pricing, attrition, and growth/margin outlook. Analysts offer positive forecasts for Infosys performance.
HDFC Life shares rise 2% post Q1 results. Should you buy, sell or hold?
HDFC Life Insurance Company reports a strong Q1FY25 with a 15% YoY growth in net profit. Brokerages maintain buy ratings with target prices ranging from Rs 765 to Rs 819. The company faces challenges but remains optimistic about future growth.
Jio Financial Services Q1 results today: Shares climb ahead of announcement
Jio Financial Q1 Results: Jio Financial Services shares rose 2% to Rs 355 on the BSE before Q1 FY25 results and RBI's CIC conversion approval. Q4 FY24 net profit was Rs 311 crore, revenue Rs 418 crore. FY24 net profit hit Rs 1,604 crore. Application to RBI in November 2023 after demerging from Reliance Industries Limited, RSI currently at 46.8 per Trendlyne data.
HCLTech headcount dips by 8,080 in Q1FY25
HCLTech experiences a notable increase in employee count by 8,080 for the quarter ending June, reaching a total of 219,401 employees. Meanwhile, TCS adds 5,452 employees, reversing headcount reduction trend. HCLTech reports a 20.4% YoY increase in net profit for Q1FY25.
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HCLTech Q1 result; Nasscom on Karnataka gig workers’ bill
India’s third IT major HCLTech’s Q1 profit is up 20% to Rs 4,257 crore. This and more on today’s ETtech Top 5.
TCS shares surge 7% on strong Q1 show, lifting D-Street to fresh record highs
TCS Share Price: Shares of TCS surged 6% to Rs 4,169 in early NSE trading after reporting higher-than-expected earnings for the June quarter. Jefferies upgraded TCS and raised its price target, while CLSA and JPMorgan maintained ratings with higher targets. Domestic analyst Nuvama also increased its target price.
We are happy with Q1 results but not in a position to say TCS is on a growth path again: CEO
TCS foresees FY25 outperforming FY24, leveraging AI and cost optimization despite market volatility, BFSI challenges, and election impacts. With Q1 achievements, reduced attrition, strategic headcount growth, and strong India business, performance remains robust. Investments in talent, discretionary project validation, and technology adaptation sustain a healthy order book, even amid fewer mega deals and extended decision-making cycles.
TCS, Infy power D-Street to fresh record highs! Sensex soars 900 points, Nifty tops 24,500 for the first time
Indian markets rose Friday, led by TCS's strong June quarter. Sensex climbed 281 points, Nifty50 up 93 points. Stocks like TCS, Infosys, and Adani Ports surged. Maruti fell. US inflation data raised September Fed rate cut chances, noted by CME FedWatch. RBI's Das predicted 5% retail inflation. Powell's testimony hinted at possible rate cuts.
TCS Q1 profit rises 8.7%; wage hikes, demand slump drag sequential numbers
TCS's June quarter net profit decreased 3.16% to Rs 12,040 crore due to wage hikes for its 600,000-plus workforce; net profit increased 8.7% YoY. Revenue rose 5.4% to Rs 62,613 crore. BSNL deal drove 61.8% India growth. The deal pipeline is $8.3 billion, AI projects at $1.5 billion. Operating margin is 24.7%. Interim dividend Rs 10 per share.
HCL Tech Q1 Results Preview: PAT may grow 6% YoY to Rs 3,745 crore, revenue uptick seen at 6.5%
Revenue for the quarter is projected to be Rs 27,997 crore, marking a 6.5% increase over the same quarter of the previous financial year, according to average estimates. Although the company is expected to report year-on-year growth in profit after tax (PAT), a sequential decline is anticipated due to project completions and reduced discretionary spending.
TCS Q1 results; Pine Labs, Swiggy valuations slashed
Indian IT bellwether TCS kicked off the tech earnings season with a 9% YoY growth in net profit for the June quarter. This and more on today's ETtech Top 5.
TCS Q1 Results: Cons PAT rises 9% YoY to Rs 12,040 crore, beats estimates
TCS Q1 Results: IT bellwether TCS reported a 9% YoY growth in its June quarter consolidated net profit, reaching Rs 12,040 crore, compared to Rs 11,120 crore in the same quarter last financial year. This profit exceeded the Street estimate of Rs 11,900 crore. Additionally, the company's board recommended a dividend of Rs 10 per share.
D-Street's cooling earnings momentum set to challenge stock rally
HDFC Bank Ltd. and Bank of Baroda Ltd. posted a sequential drop in credit growth, suggesting that lenders — who have the highest weighting in the index are struggling to keep up the rapid expansion seen in recent years.
Ajay Vora expects 16% compounding earnings growth; sees banks and metals doing better this year
“Ajay Vora says overall profit growth for FY25 is expected to come from banks and metals because last year a large part came from autos, but this time, auto as a sector or even IT as a sector is going to be pretty muted. But banks and metals will be contributing in a big way.”
What will happen to Paris Olympics 2024 after France election results?
France election results are out and the country's current political situation has raised several questions ahead of Paris Olympics 2024.
France elections 2024 results: French PM Gabriel Attal offers resignation. Is Paris heading for political turmoil?
France elections 2024 results projections have predicted bad news for President Emmanuel Macron’s centrist alliance and the far right as left coalition is in the pole position.
India Inc registers 501 deals valued at USD 21.4 bn in Q2 2024: Grant Thornton
Grant Thornton Bharat's Q2 2024 report shows 501 deals worth USD 21.4 billion. Despite a 28% value decrease post Reliance-Disney mega-merger, domestic investment and private equity remain strong. High-value deals (over USD 100 million) rose 58% with 30 significant deals. Political stability and policy clarity boosted traditional sectors like pharma and manufacturing, states Shanthi Vijetha.
HDFC Bank gross advances jump 52.6% on-year in Q1 to Rs 24.8 lakh crore
HDFC Bank's gross advances increased by 52.6% year-on-year to ₹24.87 lakh crore in the quarter ending June 30, driven by its merger with HDFC Limited last July. Excluding the merger impact, advances grew by 14.9% from June 30, 2023, reaching ₹25.08 lakh crore by March 31, 2024.
Q-comm audits; modest Q1 for IT firms
Happy Wednesday! Due to recent hygiene lapses by quick commerce, the government has intensified surprise inspections of their warehouses. This and more in today’s ETtech Morning Dispatch.
IT stocks rally up to 4% as an early indicator of Q1 earnings just gave green signals
Indian IT stocks surged following positive results from Accenture, with Persistent Systems leading the gains. Analysts expect a strong demand environment to drive healthy earnings growth.
Q4 results: Stable costs boost India Inc. profits
Steady costs and firm domestic demand supported corporate performance in the March quarter.
GIC Re Q4 Results: Net profit rises 3% to Rs 2,642 crore
GIC Re on Tuesday posted a 3 per cent increase in net profit to Rs 2,642 crore for the fourth quarter ended March 2024 compared to Rs 2,564 crore in the same quarter a year earlier.
LIC Q4 Results: Cons PAT jumps 4.5% YoY to Rs 13,782 cr; dividend declared at Rs 6 per share
LIC Q4 Results: The company had reported a net profit of Rs 13,191 crore in the corresponding period of the last financial year. The Total Premium Income for the year ended March 31, 2024, was reported at Rs 4,75,070 crore. It was Rs 4,74,005 crore for the year ended March 31 2023. The Total Individual Business Premium for the financial year increased to Rs 3,03,768 crore from Rs 2,92,763 crore reported for the comparable period of the previous year.
Sun Pharma Q4 Results: Profit jumps 34% YoY to Rs 2,654 crore, meets Street estimates
Sun Pharma Q4 Results: The company's revenue rose 10% year-on-year to Rs 11,983 crore in the reporting quarter. It was Rs 10,931 crore a year ago. Its board has approved a final dividend of Rs 5 per share, which will be paid within the prescribed timeline. India formulations sales were Rs 3,707 crore for the fourth quarter, showing growth of 10% over Q4 last year and accounted for 31.4% of total consolidated sales for the quarter.
Bharti Airtel announces final dividend of Rs 8 per share
The telecom major's Q4 net profit of Rs 2,072 crore missed the Street estimates by a wide margin, which saw the figure around Rs 3,274 crore. Revenue from operations in the January-March 2024 period increased 4% to Rs 37,599 crore against Rs 36,009 crore in the corresponding period of last year.
Bharti Airtel Q4 Results: Profit slides 31% YoY to Rs 2,072 crore; dividend declared at Rs 8/share
Bharti Airtel Q4 Results: Revenue from operations in the January-March 2024 period increased 4% to Rs 37,599 crore against Rs 36,009 crore in the corresponding period of last year. Consolidated revenues were impacted by the devaluation of African currencies during the period, particularly Nigerian Naira.
Hero MotoCorp shares surge 6% after Q4 results. Should you buy, sell or hold?
Hero MotoCorp Share Price: Hero MotoCorp shares surged 6% after Q4 results, with net profit up 18% to Rs 1,016.05 crore. Brokerages remained positive: Jefferies expects double-digit industry revenue growth, maintains 'buy'; BofA sees potential in Hero 2.0 strategy, sets target price of Rs 5,400; Kotak retains 'sell' rating.
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