LTIMindtree, HDFC Bank, Tata Elxsi shares mixed ahead of Q1 results. Analyst views

Shares of HDFC Bank, LTIMindtree and Tata Elxsi were trading mixed ahead of their June quarter results. HDFC Bank was trading 0.15 per cent higher at Rs 1,642. Tata Elxsi shares were up 1.18 per cent to Rs 7,821.95. LTIMindtree shares, on the other hand, were up 2.15 per cent to Rs 5,202.50.

HDFC Bank Q1 results

In the case of HDFC Bank, the private lender is expected to report 19-25 per cent surge in net profit for the June quarter on a 20 per cent-plus jump in net interest income (NII). Net interest margin is seen flattish both sequentially and on year-on-year (YoY) basis.

Analysts noted that HDFC Bank is the only bank whose deposit growth outpaced credit growth consecutively for the last four quarters. They said any commentary on the integration progress of merger with HDFC will be keenly watched.

LTIMindtree Q1 results

LTIMindtree, on the other hand, is expected to report a single-digit rise in net profit for the June quarter on a double-digit rise in sales. Dollar revenue is seen rising 0.5 per cent sequentially while Ebit margin is seen expanding sequentially (but falling YoY). In his case, investors would be looking out for commentary on BFSI vertical, margins outlook of merged entity and any revision in FY24 guidance.

Tata Elxsi Q1 results

HDFC Securities expects the Tata group firm to report a profit of Rs 191 crore or the June quarter, up 3.3 per cent YoY. It sees sales at Rs 873 crore, up 20.2 per cent YoY. Ebit margin is seen at 26.2 per cent , down 422 basis points YoY (down 105 bps QoQ). Dollar evenue is seen rising 4.1 per cent QoQ (13.8 per cent YoY) to $106 million.

 

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