The IT stack kicks off the December quarter earnings season with Tata Consultancy Services (TCS) and Infosys announcing their results on January 11. December is a seasonally weak quarter for IT majors due to higher furloughs, and analysts anticipate a likely impact of postponed wage hikes on margins.
HCL Tech, Wipro, HDFC Life among the other names to watch out for. Here's how it stacks up from Monday.
January 8: SG Mart, IEL Ltd, Spectrum Foods, Franklin Industries, and GDL Leasing and Finance will announce their third-quarter results.
January 9: Delta Corp, Bajel Projects, Standard Capital Markets, Ashapuri Gold Ornament, Reliance Home Finance, Cropster Agro, and Betala Global Securities.
January 10: Tine Agro, Sunita Tools, SPS Finquest, UH Zaveri, Martin Burn, 7NR Retail, Vandana Knitwear, Orosil Smiths India, Viij Finance, and Corporate Merchant Bankers.
January 11: Tata Consultancy Services, Infosys, HDFC AMC, GTPL Hathway, 5Paisa Capital, Rajoo Engineers, AGI Infra, Plastiblends India, Kenvi Jewels, Gujarat Hotels, Vijay Textiles, Shekhawati PolyYarn, Quasar India, and Mercury Trade Link will report their results.
January 12: HCL Tech, Wipro, HDFC Life Insurance, Anand Rathi Wealth, JTL Industries, Tata Metaliks, Bharat Bijlee, Hi-Tech Pipes, Aditya Birla Money, Artson Engineering, International Travel House, LKP Finance, Amal Ltd.
January 13: Avenue Supermarts (DMart), Wardwizard Innovations and Mobility, Justride Enterprises, MRP Agro, Confidence Finance, and Trading among others will announce their results on January 13.
Nuvama Institutional Equities expects most technology companies to retain their FY24 guidance. Focus, it said, will now shift from FY24 to FY25/26, with a keen interest in how client budgets are shaping up for 2024, especially after recent US Fed commentary. Nuvama revenue growth to be between -4 per cent and 4 per cent for most companies in Q3.